• Trending
Zelensky

African presidents shun Volodymyr Zelensky

June 21, 2022
Africa Elections 2022

2022, year of elections and uncertainties in Africa

January 2 2022
Francois Beya

DRC: who is François Beya, the "Mister Intelligence" who has just been arrested?

February 6 2022
Why do the two Congos have the same name?

Why do the two Congos have the same name?

March 12, 2021
Does Africa have 54, 55 countries… or more?

Does Africa have 54, 55 countries… or more?

August 6, 2021
Hassan Morocco

Morocco: the heir Hassan III, the spitting image of his grandfather?

February 17 2022
Horn of africa

How Chinese and Americans fight over the Horn of Africa

January 9 2022
Between the DRC and Gabon, the end of the diplomatic battle?

What does Gabon have to gain by joining the Commonwealth?

January 4 2022
Sex tourism in Africa, between taboos and instrumentalisation

Sex tourism in Africa, between taboos and instrumentalisation

September 27, 2021
Doumbouya Camara

Guinea: Mamady Doumbouya sets up a "shadow government"

January 11 2022
Algeria Russia

Algeria-Russia: trade, gas… and hypersonic weapons?

November 19, 2021
Why is the IMF lending $ 1 billion to Côte d'Ivoire?

Mali, Senegal, Burkina Faso… Anti-French sentiment or disavowal of French politics?

January 19 2022
Monday, 15 August 2022
Passports
العربية AR 简体中文 ZH-CN English EN Français FR Deutsch DE Português PT Русский RU Español ES Türkçe TR
Country
No Result
View All Result
The Journal of Africa
canxnumx
Careers
  • Home
  • Africa yesterday
    Africa to the Childhood Cancer Challenge: Ambitious Goals

    Africa to the Childhood Cancer Challenge: Ambitious Goals

    Senegal CAN

    Will European clubs embark on CAN blackmail?

    The day France recognized slavery as a crime against humanity

    Can Africa get reparations and apologies for the slave trade?

    Togo

    Benin, Togo: human rights violated under cover of the fight against terrorism?

    Taxation of African States: the weight of the colonial heritage

    Taxation of African States: the weight of the colonial heritage

    What is the program of Emmanuel Macron's mini-tour in Africa?

    What is the program of Emmanuel Macron's mini-tour in Africa?

    In French-speaking Africa, historians faced with the great return of the “national novel”

    In French-speaking Africa, historians faced with the great return of the “national novel”

    Nigeria: Moshood Abiola's commitment against slavery and colonialism

    Nigeria: Moshood Abiola's commitment against slavery and colonialism

    Ibrahim Abouleish

    Ibrahim Abouleish, the Egyptian who made the desert green

  • Africa today
    What if Gabon were inspired by green research in Hong Kong to recover wood waste?

    What if Gabon were inspired by green research in Hong Kong to recover wood waste?

    Abdoulaye Bathily, an African in Libya?

    Abdoulaye Bathily, an African in Libya?

    Global warming: is Africa paying for the West?

    The role of English and local languages ​​in communication and public diplomacy on the Congo Basin

    IMF

    Ghana: are rating agencies still credible?

    How Beyoncé helped spread African cultures

    How Beyoncé helped spread African cultures

    Biden Somalia

    Billions of US dollars to counter China and Russia in Africa

    Tidjane Thiam puts his political ambitions on hold

    Ivory Coast: Tidjane Thiam already on the starting blocks for 2025?

    In Tunisia, the challenge of the brain drain

    In Tunisia, the challenge of the brain drain

    Mungiki

    [Gangs of Africa] The Mungiki, between bloodthirsty rituals and politics

  • Africa according to
    How many Africans in 2100? The new UN projections

    How many Africans in 2100? The new UN projections

    Ivory Coast: can the rainy season jeopardize CAN 2023?

    Ivory Coast: can the rainy season jeopardize CAN 2023?

    How to produce drinking water even in arid areas?

    How to produce drinking water even in arid areas?

    Child labor

    Where is Africa in the fight against child labour?

    Pension fonds

    Pension funds in Africa, a Pandora's box

    Takeover of Twitter by Elon Musk: what it changes for Africa

    Takeover of Twitter by Elon Musk: what it changes for Africa

    How climate change could displace malaria

    How climate change could displace malaria

    Trade in Africa: why positive stories should be valued

    Trade in Africa: why positive stories should be valued

    Russia

    Russia-West economic balance of power: a cycle that is ending?

  • Editorial
    tonakpa

    [Tonakpa's mood] The new “military democracies”

    [Editorial] 30 years later, is apartheid really over?

    [Editorial] 30 years later, is apartheid really over?

    [Edito] Gabon and Commonwealth: the whims of Prince Ali

    [Edito] Gabon and Commonwealth: the whims of Prince Ali

    [Editorial] Facebook and Twitter, more dictators than dictators?

    [Editorial] Facebook and Twitter, more dictators than dictators?

    [Edito] Rwanda: for the French apologies, we will have to go back

    [Edito] Rwanda: for the French apologies, we will have to go back

    [Edito] Guinea: Alpha Condé, the oppressed turned oppressor

    [Edito] Guinea: Alpha Condé, the oppressed turned oppressor

    [Edito] CFA Franc: a facelift cut to measure for France

    [Edito] CFA Franc: a facelift cut to measure for France

    [Edito] Riyad Mahrez: One, two, three, viva l'Algérie!

    [Edito] Riyad Mahrez: One, two, three, viva l'Algérie!

    [Edito] Niger: Mohamed Bazoum begins a delicate balancing act

    [Edito] Niger: Mohamed Bazoum begins a delicate balancing act

  • Contact
  • Home
  • Africa yesterday
    Africa to the Childhood Cancer Challenge: Ambitious Goals

    Africa to the Childhood Cancer Challenge: Ambitious Goals

    Senegal CAN

    Will European clubs embark on CAN blackmail?

    The day France recognized slavery as a crime against humanity

    Can Africa get reparations and apologies for the slave trade?

    Togo

    Benin, Togo: human rights violated under cover of the fight against terrorism?

    Taxation of African States: the weight of the colonial heritage

    Taxation of African States: the weight of the colonial heritage

    What is the program of Emmanuel Macron's mini-tour in Africa?

    What is the program of Emmanuel Macron's mini-tour in Africa?

    In French-speaking Africa, historians faced with the great return of the “national novel”

    In French-speaking Africa, historians faced with the great return of the “national novel”

    Nigeria: Moshood Abiola's commitment against slavery and colonialism

    Nigeria: Moshood Abiola's commitment against slavery and colonialism

    Ibrahim Abouleish

    Ibrahim Abouleish, the Egyptian who made the desert green

  • Africa today
    What if Gabon were inspired by green research in Hong Kong to recover wood waste?

    What if Gabon were inspired by green research in Hong Kong to recover wood waste?

    Abdoulaye Bathily, an African in Libya?

    Abdoulaye Bathily, an African in Libya?

    Global warming: is Africa paying for the West?

    The role of English and local languages ​​in communication and public diplomacy on the Congo Basin

    IMF

    Ghana: are rating agencies still credible?

    How Beyoncé helped spread African cultures

    How Beyoncé helped spread African cultures

    Biden Somalia

    Billions of US dollars to counter China and Russia in Africa

    Tidjane Thiam puts his political ambitions on hold

    Ivory Coast: Tidjane Thiam already on the starting blocks for 2025?

    In Tunisia, the challenge of the brain drain

    In Tunisia, the challenge of the brain drain

    Mungiki

    [Gangs of Africa] The Mungiki, between bloodthirsty rituals and politics

  • Africa according to
    How many Africans in 2100? The new UN projections

    How many Africans in 2100? The new UN projections

    Ivory Coast: can the rainy season jeopardize CAN 2023?

    Ivory Coast: can the rainy season jeopardize CAN 2023?

    How to produce drinking water even in arid areas?

    How to produce drinking water even in arid areas?

    Child labor

    Where is Africa in the fight against child labour?

    Pension fonds

    Pension funds in Africa, a Pandora's box

    Takeover of Twitter by Elon Musk: what it changes for Africa

    Takeover of Twitter by Elon Musk: what it changes for Africa

    How climate change could displace malaria

    How climate change could displace malaria

    Trade in Africa: why positive stories should be valued

    Trade in Africa: why positive stories should be valued

    Russia

    Russia-West economic balance of power: a cycle that is ending?

  • Editorial
    tonakpa

    [Tonakpa's mood] The new “military democracies”

    [Editorial] 30 years later, is apartheid really over?

    [Editorial] 30 years later, is apartheid really over?

    [Edito] Gabon and Commonwealth: the whims of Prince Ali

    [Edito] Gabon and Commonwealth: the whims of Prince Ali

    [Editorial] Facebook and Twitter, more dictators than dictators?

    [Editorial] Facebook and Twitter, more dictators than dictators?

    [Edito] Rwanda: for the French apologies, we will have to go back

    [Edito] Rwanda: for the French apologies, we will have to go back

    [Edito] Guinea: Alpha Condé, the oppressed turned oppressor

    [Edito] Guinea: Alpha Condé, the oppressed turned oppressor

    [Edito] CFA Franc: a facelift cut to measure for France

    [Edito] CFA Franc: a facelift cut to measure for France

    [Edito] Riyad Mahrez: One, two, three, viva l'Algérie!

    [Edito] Riyad Mahrez: One, two, three, viva l'Algérie!

    [Edito] Niger: Mohamed Bazoum begins a delicate balancing act

    [Edito] Niger: Mohamed Bazoum begins a delicate balancing act

  • Contact
No Result
View All Result
The Journal of Africa
Home Africa today

Why Rising Diamond Prices Won't Benefit Africa

Omar Lucien Koffi Par Omar Lucien Koffi
fr Français▼
X
ar العربيةzh-CN 简体中文en Englishfr Françaisde Deutschpt Portuguêsru Русскийes Españoltr Türkçe
Tuesday January 18th, 2022, at 12:54 PM
Dance Africa today
A A
Africa Diamonds

In the first diamond sales of the year, the world's largest producer, De Beers, which works in the Botswana and South African markets in particular, aggressively raised its prices. Is this good news for producing countries?

The South African diamond conglomerate – although based in Luxembourg and London – De Beers, of the wealthy Nicky Oppenheimer, pulled off one of the most aggressive diamond price increases in recent years.

Taking advantage of extraordinary demand for gemstones, De Beers raised prices for larger stones by 5%, while smaller, pure rough diamonds saw their prices increase by almost 20%.

Overall, the increase in selling prices is estimated at 8% for total sales at the start of the year. Never seen. The biggest increase in diamond prices took place in 2013 and did not exceed 2%.

The disrupted global market

This confirms, if necessary, the control of De Beers – 85% owned by Nicky Oppenheimer's Anglo American – on the world diamond market. In Africa, the conglomerate controls the entire production chain in the two leading producing countries on the continent and in the world, Botswana and South Africa.

For specialists, this price increase is probably temporary. Business media believe that De Beers could not go to war with other producers over the world price of diamonds. If the price increase theoretically suits all producers, it risks creating discontent, from De Beers' competitors who would see their customers abandon the big corporations for more reasonable local producers, to customers who would boycott the purchase and might even be tempted by sale. Especially given the upheaval in the market and its financial implications.

Which would also explain De Beers' silence. This is one of the few times when big diamond sales make the headlines. And the diamond conglomerate would have preferred that this information remain confidential. Contacted by Reuters and Bloomberg, De Beers representatives all declined to comment on industry news.

Botswana, the loser in history?

In the jewelry market, rising prices are also likely to put several major brands unable to stock. Smaller diamonds have been popular in recent years due to oversupply. But their price fell sharply at the end of 2021.

However, retailers such as Bvlgari, Cartier or Tiffany do not have the necessary stocks to meet demand. And the price increase decided by De Beers could theoretically push them to buy at a high price, which, inevitably, would have a negative impact on their profits.

But the brands are not the only ones not to gain from the change. In Botswana, the rise in prices is of little benefit to the State.

Worse, if De Beers decides to increase its production, it will be at the expense of Botswana's reserves. Such a decision would be perceived by the authorities as a provocation. Especially since the conglomerate is already profiting too much from its monopoly on diamond mining. The stones are indeed often sold abroad, and De Beers pays only 15% tax on its income in Botswana.

tags: in oneEconomy
Previous Article

Alpha Condé leaves Guinea for treatment

Next article

Mali: Choguel Maïga, the thorn in the side of France

Omar Lucien Koffi

Omar Lucien Koffi

Leave comments Cancel reply

Your email address will not be published. Required fields are marked with *

All the news About AFLIP
  • South Africa
  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burkina Faso
  • Burundi
  • Cameroon
  • Green cap
  • Central
  • Comoros
  • Ivory Coast
  • Djibouti
  • Egypt
  • Eritrea
  • Ethiopia
  • Gabon
  • The Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Equatorial Guinea
  • Kenya
  • Lesotho
  • Liberia
  • Libya
  • Madagascar
  • Malawi
  • Mali
  • Morocco
  • Mauritius
  • Mauritania
  • Mozambique
  • Namibia
  • Niger
  • Nigeria
  • Uganda
  • Republic of Congo
  • DR Congo
  • Rwanda
  • Sao Tome and Principe
  • Senegal
  • Seychelles
  • Sierra Leone
  • Somalia
  • Sudan
  • South Sudan
  • Swaziland
  • Tanzania
  • Chad
  • Tunisia
  • Togo
  • Zambia
  • Zimbabwe

Maghreb & Middle East

  • Algeria
  • Egypt
  • Libya
  • Morocco
  • Mauritania
  • Middle-East
  • Tunisia

West Africa

  • Benin
  • Burkina Faso
  • Green cap
  • Côte d'Ivoire
  • The Gambia
  • Ghana
  • Guinea Conakry
  • Guinea-Bissau
  • Liberia
  • Mali
  • Niger
  • Nigeria
  • Senegal
  • Sierra Leone
  • Togo

Central Africa

  • Central African Republic
  • Cameroon
  • Gabon
  • Equatorial Guinea
  • Democratic Republic of Congo
  • Republic of Congo
  • Chad
  • Sao Tome and Principe

East Africa

  • Burundi
  • Djibouti
  • Eritrea
  • Ethiopia
  • Kenya
  • Uganda
  • Rwanda
  • Somalia
  • Sudan
  • South Sudan
  • Tanzania

Southern Africa and Indian Ocean

  • South Africa
  • Angola
  • Botswana
  • Comoros
  • Lesotho
  • Madagascar
  • Malawi
  • Mauritius
  • Mozambique
  • Namibia
  • Seychelles
  • Eswatini
  • Zambia
  • Zimbabwe
  • Who are we?
  • Editorial
  • Legal notice
  • Contact
  • May 2021
العربية AR 简体中文 ZH-CN English EN Français FR Deutsch DE Português PT Русский RU Español ES Türkçe TR

© 2022 The Journal of Africa.

No Result
View All Result
  • Home
  • Africa according to
  • Africa yesterday
  • Africa today
  • Careers
  • Passports
  • May 2021
  • Contact

© 2022 The Journal of Africa.

Welcome back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

Đã cần thiết All trường. Log In

Retrieve your password

Hãy nhập tên người dùng hoặc địa chỉ email để mở mật khẩu

Log In

Add new playlist

Go to mobile version