Diamond industry crisis deepens as job cuts begin
Sunday Standard Diamond industry crisis deepens as job cuts begin The Botswana Diamond Workers Union (BDWU) has declared a formal dispute at Genesis HB Botswana which is a diamond cutting and polishing company wholly owned by HP Antwerp, a Belgian diamond technology company. While the Botswana government had sought to acquire a 49.9% stake in the company, it currently does not hold any shares in […] The post Diamond industry crisis deepens as job cuts begin first appeared on Sunday Standard and is written by Portia Nkani
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Sunday Standard
Diamond industry crisis deepens as job cuts begin
The Botswana Diamond Workers Union (BDWU) has declared a formal dispute at Genesis HB Botswana which is a diamond cutting and polishing company wholly owned by HP Antwerp, a Belgian diamond technology company.
While the Botswana government had sought to acquire a 49.9% stake in the company, it currently does not hold any shares in the Belgian diamond manufacturer HB Antwerp. Although the previous administration announced an agreement in 2023 to acquire a 24% stake, the deal was never finalized and no shares were paid for as the government underwent a due diligence process.
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The post Diamond industry crisis deepens as job cuts begin first appeared on Sunday Standard and is written by Portia Nkani
