State owned – Okavango Diamond Company (ODC), a key player in the country’s diamond industry, is poised to secure a vital P4.1 billion syndicated revolving working capital facility. However, the success of this financial maneuver hinges on a crucial factor: the extension of a government guarantee. Without this guarantee, ODC’s ability to purchase and manage its rough diamond allocations from Debswana could falter, jeopardising its purchasing power and broader market position.
On Thursday, Finance Minister, Peggy Serame, confirmed ODC’s rather awkward financial position to Parliament urging the approval of a 10-year government guarantee extension.
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