The Democratic Republic of Congo (DRC) has the largest diamond reserves in Africa, but this sector seems to have been neglected in favor of copper and cobalt. It is in this context that President Félix Tshisekedi paid a visit to Jwaneng, a major open-pit diamond mine located 150 km from Gaborone in Botswana.
Accompanied by its advisers, delegates from COPIREP (Steering Committee for the Reform of State Portfolio Enterprises) and members of the FEC (Federation of Congolese Enterprises), the Congolese delegation examined the entire value chain of this company owned by Debswana Diamond Company Ltd.
This visit inspired the Congolese Head of State, who declared: “I really admit that it inspires me. Congo-Kinshasa is also a major diamond producer. This sector is in decline at the moment. After this visit, we have ideas that we need to re-energize our diamond sector”.
A recovery plan for the Bakwanga mining company (MIBA) was adopted in January 2023 following the work carried out by COPIREP. Valued at 453 million dollars and accompanied by an investment plan of 161 million dollars, this plan is to be implemented over the next 5 years.
The Miba has seen a dramatic drop in production, from 9,556,436 carats in 1990 to just 38,788 carats in 2020. Revenues have also fallen from $102,573,220 in 1990 to $480,000 in 2020.
This visit to Debswana Diamond Company Ltd allowed the DRC to draw ideas to re-energize the diamond sector in the country. Let’s hope that the projects launched by COPIREP will allow a rapid revival of this strategic sector for the Congolese economy.