Last month was no different. When he unveiled the largest diamond to be mined this century, President Mokgweetsi Masisi exclaimed: “I can see new roads being built.”

The translucent gem is the size of an adult’s palm. The second-largest diamond ever found, it could sell for tens of millions of dollars. 

And 10% of that will go to Botswana because, unlike other countries rich in raw materials, the Southern African state has kept its seat at the table. Through agreements with mining companies, it earns crucial dollars and keeps a share to sell for itself.

But Masisi has to work harder than his predecessors to keep the cash cow alive.

Botswana is the world’s biggest producer of mined diamonds by value, and mines 20% of all diamonds by weight. That value is falling rapidly because of lab-grown diamonds. These are cheaper and hardly distinguishable from mined ones.

In January, the middle-income country estimated that its economy would grow by 4.2%. But then diamond sales nearly halved in the first three months of the year.

Last month, the International Monetary Fund changed its own estimate and said the economy would grow by only 1%. It also advised the country to spend less on infrastructure because it would have less money.

Seeing the shifting market, Botswana has started to change its diamond marketing strategy and invested in making splashier announcements: big rare finds that make international news.

Canadian miner Lucara Diamond has helped. The Karowe mine, 500km north of the capital Gaborone, gave up this diamond after two other big finds in its 12 years of operation. One of these was reportedly sold for more than $50 million. 

Last month’s 2 492-carat stone was found using X-ray technology designed to identify and preserve large, high-value diamonds so that they can be extracted whole.

But discovery of rare, highly sought after stones is “not the basis for an industry”, says mining historian Duncan Money. “Ultimately, it doesn’t change the fact that synthetic diamonds are becoming cheaper and better.”

So Masisi’s other bet is to swing for more of the pie — even as it dwindles.

Last February, he threatened to sever ties with Anglo American, which together with Botswana co-owns mining giant De Beers, and local miner Debswana, which runs four of Botswana’s five active diamond mines.

Masisi’s critics accused him of nationalist rhetoric but when the Debswana arrangement was renewed (in principle) a few months later, the half century partnership had some crucial new changes.

Where Debswana used to sell only 25% of its diamonds to the state-owned Okavango Diamonds marketing company, it can now sell 30%. And that number will grow to 50% over the next 10 years. The rest will still go to De Beers, in which Botswana has a stake of 15%.

In addition, De Beers will invest a billion pula ($75 million) into a fund for development, ramping that up to 10 billion over 10 years.

The Botswana government’s work to protect its diamond income also means keeping others out. This May, when Anglo American announced it would split from De Beers, Masisi said Botswana was prepared to buy more of a stake in the spin-off, to keep out “bad guys” with “impatient capital”. 

De Beers made only $72 million last year — which is a bust in the diamond industry. But its profits have historically ranged between $500 million and $1.5 billion, according to Mining Weekly. Its target is to return to an annual core profit of $1.5 billion by 2028.

Masisi reckons that if Botswana puts enough public money in the game to patiently ride out the booms and busts of the erratic diamond industry, he and his successors will continue building roads, schools and hospitals. Others, like Duncan Money, reckon it’s time for Botswana to start diversifying its economy instead. — Additional reporting by Kiri Rupiah.

This article first appeared in The Continent, the pan-African weekly newspaper produced in partnership with the Mail & Guardian. It’s designed to be read and shared on WhatsApp. Download your free copy at thecontinent.org

Like many women around the world, we grew up on happily-ever-after pro-marriage fairy tales — Cinderella, Snow White. But with the recent economic downturn, the tradition of paying ”bride price” has become a different sort of challenge that necessitates all sorts of new ways to cover the ”bill”.

When a man claims to wholeheartedly love a woman, but cannot afford to pay bogadi (dowry, lobola) he has two options. The first is to let go of the thought until a later time when he can afford to marry. The second is to make the necessary arrangements to keep the woman. He can pay a small fee and lather the woman’s family with inexpensive gifts and promises to pay off what he owes. He usually lets his uncles do this bit, as is Tswana custom.

The first option, however, is a bit risky as someone might come and take this woman away. So many men devise plans to take their brides ”on credit” — a take now, pay later arrangement.

Nowadays, only a few women can boast of being married with nice fat cattle. These lucky ones are usually from posh families and educated at upmarket schools and universities. For indeed it still matters in many cases during the bogadi process that you are ”not spoilt” (have no children), not divorced and are a ”diamond” (well educated).

Now, this bride-on-credit arrangement remains a closely guarded secret among family members, even though in Botswana communities there are no secrets. Whenever arguments erupt, excitement reigns or conversations dry up, these things are likely to come out. It is embarrassing and humiliating for the woman, to the point that I have heard of women who give their men money to pay themselves off. The men, by contrast, are rarely worried because they are able to have their cake and eat it. He can take his time to pay her off and in the meantime — life and love goes on.

This was the case with a certain Bra J I know. Not too long ago he had a huge wedding, complete with two venues, a white dress for his wife and custom-made suit for himself, cute flower girls and an expensive wedding cake and catering company. I was surprised. Weren’t they married all along? I mean they have three children, share a huge house and wore wedding bands all along. Bra J chuckled and told me that he had married his wife on credit. He had now seen fit to pay off bogadi as they were both comfortable and were navigating their way to old age.

Wow! Bra J’s wife, on the other hand, was not too keen to discuss this with me as it was beneath her: culturally speaking, she reminded me, I am considered a girl (young and unmarried with children) and she a woman (married).

This bride-on-credit trend is now becoming popular. People sign promissory notes at the magistrate’s court committing to pay off the bogadi.

A would-be suitor insisted that if he married me, he would pay me off in monthly instalments as he could not afford to pay me off at one go. I had a great laugh.

So marriage is an expense and we must play it like a Sudoku game. Yet, in the middle of all this I am fascinated by the pompous affairs weddings and engagement parties are. In Botswana a good nuptial celebration is something you cannot miss. People go all out to ensure the event is a never-to-be-forgotten feast of fashion, booze and music. The best you can offer as a sign of respect and joy for the couple is to attend the event, enjoy the food, pack the cakes in your handbag, swallow the alcohol with an open throat and dance the evening away while proclaiming this to be the ”party of the year”.

For people like me who struggle to keep their mouths shut, there is a need to bite your tongue and not ask if the bride is on credit.

Keletso Thobega was born and raised in Lobatse, Botswana. She is a student journalist and a visual artist