Nikunj Mehta expands into the diamond sector
Best known for his industrial equipment company Archein Hardware, Botswanan entrepreneur Nikunj Mehta has decided to venture into diamonds.
South Africa's wildlife reserves, which often receive financial support from foreign family offices, also attract European financiers, particularly when they have been in trouble with the authorities in their home countries. Dutchman Frank Vogel took up residence in a small nature reserve in South Africa's Limpopo province, where he soon became a director and one of its financial backers.
Minergy Coal, which embodies Gaborone's determination to diversify its diamond-centric mining industry to embrace coal as well, is seeking financial aid from the state to ride out the public health crisis, barely a year after its Masama mine went into production.
Having suddenly found herself at the helm of Debswana in 2019 following the premature death of her predecessor, Lynette Armstrong has been running Botswana's leading diamond producer in an acting capacity. With the appointment of a permanent managing director pending, she has been activating her networks as well as renegotiating the contract to sell the company's diamonds with its two shareholders, the Botswanan state and De Beers.