London, UK
De Beers Group announced on the 25 April, its decision to relocate the De Beers Group Auctions business headquarters from Singapore to Botswana. According to De Beers this strategic move is part of De Beers’ efforts to streamline operations, enhance efficiency, and further develop the diamond sector in Botswana.
“The relocation of the Auctions headquarters to Gaborone reaffirms De Beers Group’s commitment to the development of Botswana’s diamond industry,” De Beers statement read.
It demonstrates confidence in the country’s capabilities and growth agenda. De Beers Global Sightholder Sales successfully moved from the United Kingdom to Botswana in 2013 and has been operating in Gaborone for over a decade. The move of the Auctions business headquarters is expected to improve efficiency, strengthen partnerships, and support the development of key diamond industry skills in Botswana.
During the relocation process, De Beers Group Auctions will temporarily pause operations and sales events to facilitate a smooth transition and ensure uninterrupted high-level service for customers.
Al Cook, Chief Executive Officer for De Beers Group, expressed his satisfaction with consolidating the global diamond trading business under one roof. He noted the successful operation of the Global Sightholder Sales business in Botswana for 11 years, making the transfer of the Auctions business a logical and positive step. Cook expects the move to drive cost efficiencies, meet customers’ needs, and further develop Botswana’s diamond sector.
Emma Peloetletse, speaking on behalf of the Government of Botswana, emphasized the significance of De Beers’ Auctions business relocation to Botswana. She highlighted Botswana’s growing role as a global hub for the diamond industry and the positive impact on the economy and skills development in the sector.
The relocation of De Beers’ Auctions headquarters from Singapore to Botswana signifies a milestone in the development of Botswana’s diamond industry and strengthens the country’s position as a key player in the global diamond trade.
