Botswana President Advocate Duma Boko has called for renewed transparency and accountability in the natural diamond industry.
Addressing delegates at the World Federation Diamond Market meeting in New York on Tuesday, President Boko highlighted the urgent challenges confronting the natural diamond industry. As shifting consumer habits and the rise of synthetic diamonds reshape global markets, President Boko emphasised the need for renewed transparency and accountability to rebuild consumer trust.
“The natural diamond industry is facing a significant reduction in purchasing power as consumer habits have evolved over the years,” President Boko said. “Natural diamonds are unique, and that uniqueness must be preserved through robust mechanisms of accountability and transparency.”
Boko outlined his administration’s approach to combating these challenges, which includes implementing new transparency initiatives aimed at ensuring integrity throughout the value chain.
“Together, we share a commitment not only to preserve the diamond industry but to renew it for a new era,” Boko stated. “The theme of this meeting — natural diamonds, tariffs, and creating demand — goes to the core values of our industry. It is rooted in the urgent need for accountability and transparency.”
He also addressed the growing influence of the synthetic diamond market, noting that the distinction between natural and lab-grown diamonds is becoming increasingly blurred. This, he warned, presents a pressing challenge that must be addressed to protect the authenticity and value of natural diamonds.
“The line between what is real and what is a replica is increasingly difficult to distinguish,” he said. “This is a challenge we must confront with urgency.”
The President’s remarks were well received by industry leaders, who echoed the call for global collaboration to ensure the resilience and ethical integrity of the natural diamond sector.
