| Hong Kong Jewellery 香港珠寶
News & Highlight


  • (Photo courtesy: HB Antwerp)

Botswana To Aquire 24% Stake in HB Antwerp


Belgian diamond manufacturer HB Antwerp announced the strategic partnership with the Botswana government on 27 March 2023 whereby the government will invest in HB Antwerp by acquiring a 24-percent equity stake in HB Antwerp. Then key commercial terms of the deal have been agreed and the parties intend to sign definitive contracts in the coming weeks.


According to HB Antwerp, the opening of HB Botswana, HB Antwerps local subsidiary, fulfils the companys promise to bring its cutting-edge, proprietary technologies to Botswana, supporting the countrys transformation into a diamond knowledge centre. Located at the Diamond Technology Park in Gaborone, the facility is closely modelled on its Antwerp operations. 


Mokgweetsi Masisi, president of Botswana said: “The HB Botswana facility in Botswana is the realisation of close collaboration and partnership between the Government of the Republic of Botswana and HB Antwerp. We are forging a brighter future for the next generation of Botswana, taking unprecedented ownership over our natural resources to realise their potential for our nations sustainable development.”


“Our success has come – and will continue to come – from our fearless willingness to challenge every aspect of the way things have been done to date and to recognise value where others have overlooked it,” said Rafael Papismedov, co-founder of HB Antwerp.


In an additional aspect of the strategic partnership, Masisi added that the government of Botswana, through its rough diamond trading company, Okavango Diamond Company (ODC), will supply rough diamonds to HB Botswana for five years, with all the value-add to take place in Botswana.


HB Antwerp mentioned, for Botswana, the strategic partnership enables the country to achieve several development priorities: active participation in the high-margin midstream and downstream segments of the diamond value chain, additional value from selling diamonds based on polished price rather than rough price, beneficiation of diamonds in Botswana, development of the most highly valued skills in the diamond sector with young Botswana taking leadership positions, ownership of proprietary technology, and the marketing of Botswana to the world through diamond provenance.


During the inauguration ceremony, HB Antwerp announced it will open a significantly larger, more advanced facility at the Botswana Innovation Hub, scaling the companys impact by as much as ten times. 


HB Botswana will be led by locals and will strive to maintain gender parity among its employees. The HB Academy, an internal training institute, will teach future HB Antwerp team members all the technical skills needed to operate this high-tech facility. HB Antwerp aims to grow its Botswana presence to 485 employees by 2026 and further position the company as the employer of choice in Botswana. 





← Back