Gaborone is ramping up efforts to boost diamond sales and counter synthetic gems by targeting wealthy young Americans via Instagram and TikTok. In a bold marketing move, the government recently hosted an exclusive influencer dinner in New York, partnering with luxury jeweler The Clear Cut to promote natural diamonds as a premium, ethical choice. With lab-grown diamonds driving down prices, Botswana’s strategy focuses on high-value stones of 5 carats and more. Beyond that, Gaborone emphasizes its diamonds’ traceability via blockchain and the nation’s use of diamond revenues for public welfare. Mines Minister Bogolo Kenewendo hopes this strategy will revitalize the country’s economy, which suffered after a 46% drop in diamond sales last year.
Source: Bloomberg
