Diamonds are one of the most precious resources in the world. They are rare gems which can only be found in a number of places across the earth. Among the top diamond producing countries in the world, are about 5 confirmed African countries. Several others have billion dollar diamond industries, selling diamonds on the international market at some of the highest dollar-per-carat prices in the world. Diamonds are a vital source of foreign exchange for African countries with low-income revenue. Here are 5 of the top African diamond producing countries in the world:
- Ghana: The West African country is in fact placed among the chief producers of diamonds globally. Its exportation of diamond together with gold is one of its main sources of revenues.
- Republic of Congo: Although this country is considered one of the countries with the poorest people in the world, yet it is extremely loaded with natural resources and diamonds. Congo may be small, but it has many diamond reserves. It provides the world with 19% of diamond production depending mainly on mining.
- Botswana: Its government owns half of the country’s greatest diamond mining company. The mining industry offers about 40% of Botswana’s income and about 20% of international diamond supply.
- South Africa: The richest gold producer in Africa is also one of Africa’s richest in diamonds. The world’s major type of diamond was actually found in South Africa. Most of its revenue is mainly dependent on the manufacture of diamonds.
- Angola: It is rich in subsoil inheritance as its diamond resources are present. Angola draws most of its income from its diamond and oil production which contributes to about 60% of its revenues.
Olatorera Consultancy Limited provides business development services to high net-worth individuals and companies looking to grow, enter or do business in Africa.