Adding Value - Botswanan Diamonds

The Economist reports:

Until recently Botswana, a country of 1.8m people that produces 27% of the world's diamonds by value, exported only rough stones. The government, which is struggling to diversify its economy and create jobs, wants to get more out of its main commodity. Cutting adds about 40% to the value of rough stones. But the idea, explains Akolang Tombale, the permanent secretary of the ministry of minerals and energy, is to create an international diamond centre that not only cuts and polishes, but also trades diamonds and provides security, technology and financial services. The government hopes this will spill over into other sectors and help diversify the economy. For now, the diamond industry should create over 3,000 jobs by the end of next year.