The Minister of Finance and Economic Development, Peggy Serame has strongly backed President Mokgweetsi Masisi’s stance that Botswana should get more from its relationship with De Beers.

Serame was speaking at a Botswana Democratic Party (BDP) women’s wing empowerment workshop in Francistown on Saturday. Talks between the government and De Beers over a new sales agreement are currently underway. It is anticipated that the talks will be completed at the end of June.

Since the talks began some months ago, Masisi has been vocal about the demands of the government. He has been persistent that the government should get more from the agreement with De Beers. Botswana’s relationship with De Beers started over five decades ago. Under the current arrangement, Botswana gets 25% of the diamond production while De Beers gets 75%.

Masisi has even threatened that the country will dump De Beers if the talks do not lead to a better deal for Botswana. His public posture talking about the negotiations has generated an element of anxiety from some quarters. Some Batswana believe that the President’s demeanour is an indication that the talks are destined for a breakdown, something that could trigger the country’s economic collapse.

On Saturday, however, Serame maintained Masisi’s stance that the country wants more than what it currently gets from the joint venture with De Beers.

“Our demands are not complex. The position of the government is that the diamonds are ours and as such they should amply benefit Batswana. We now understand the diamond industry better which is why we believe we deserve more. For us to scale up developments in the country we have to get more out of our diamonds,” Serame said.

She added that the government’s position should not be interpreted to mean that negotiations with De Beers are headed for failure.

“The talks are ongoing in Las Vegas (USA). I am optimistic that both parties will reach a conclusive agreement and that the partnership with De Beers will continue for many years to come,” Serame said. De Beers has previously expressed confidence that its partnership with Botswana will continue on terms that make economic and strategic sense for both parties.

Serame, who is the ruling party’s women’s wing chairperson, told the weekend empowerment forum that attacks against government concerning the approach to the negotiations with De Beers were unnecessary and ill-informed. What is even more worrying to her is that some BDP members have also joined a bandwagon of those who attack the party’s stance on De Beers and some of its initiatives meant to better the lives of Batswana.

She pleaded with BDP members to defend the party at all times and seek clarification when they do not understand the intended purpose of some government policies or initiatives.