BOTSWANA has started on a far-sighted overhaul of its economy that will have major implications for its mining industry in general and diamond giant De Beers in particular.

Keith Jefferis, MD of Econsult and a former deputy governor of the Bank of Botswana, says:

The country's diamond revenues will peak in 2018 and then drop off sharply. Thanks to diamonds, Botswana was the best performing economy in Africa between 1970 and 2000, reporting average growth rates of 10%/year or better - comparable to Asia's "Tiger" economies.

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