💨 Abstract

South African diamond-dependent nations, including Botswana, are facing economic challenges due to the rise of cheap lab-grown diamonds. Botswana, where diamonds contribute 30% of GDP, is diversifying into tourism, cannabis, and solar energy. Global ratings have been downgraded, and the country has declared a health crisis due to depleted reserves. Lesotho’s diamond sector is also shrinking, with job losses at its largest mine.

Courtesy: AFP