Botswana diamond giant Debswana slashes output as demand falls
The company, which accounts for around 90% of Botswana's diamond sales expects this reduced output will lead to "significant cost savings" across areas like fuel and electricity.In a statement, Debswana said it continued to "prudently navigate the challenging market conditions" citing low demand and "emerging pressures such as US-imposed tariffs".The global market for mined diamonds has been experiencing a decline since 2023, partly due to the availability of lab-grown alternatives.In response to this downturn, Debswana paused production at its flagship Jwaneng mine, as well as its Orapa mines, last month. Each mine will be closed for three months in total.The southern African country has for decades been trying to shift its economy away from being dependent on diamond sales, to varying degrees of success.Although successive governments have boosted sectors such as tourism, finance and the mining of minerals such as copper, diamond sales still make up three-quarters of Botswana's foreign exchange earnings.This income is likely to be hit by Debswana's decision to temporarily close its mines.The company has stressed that no involuntary job cuts are planned, although it continues to offer voluntary redundancy.As a result of the sustained downturn in the global diamond industry, Botswana will cut its 2025 economic growth forecast to almost zero, a senior finance official was quoted as saying by the Reuters news agency.
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The National
3 hours ago
- The National
I pored over John Swinney's strategy – here's what we must do now
Swinney started with a declaration of intent: 'Scotland's interests are best served only when Scotland's future is in Scotland's hands. Our nation will only fully flourish when the people of Scotland are in charge of our own destiny with independence.' He then went on to make his own personal case, arguing that he had 'steadied the ship', and that he had been able to 'restore the credibility of my party and my Government so that we could make – and importantly win – the argument for Scottish independence'. Looking at the polls, this is largely true, and Swinney is right to make the claim that under his leadership the SNP, over the past 12 months, have won 13 local government by-elections – a big shift after a 20-month period without a single victory. However, the irony is that they have achieved this by attempting to tackle the cost of living crisis, rather than focusing on independence. Swinney is right to assert the claim that: 'We restored Winter Fuel Payments for Scotland's pensioners when Labour chose to scrap them. We are taking bold action on child poverty by lifting the cruel two-child cap that pushes thousands of children into poverty – a decision which been welcomed by every anti-poverty charity in the country and which Labour, to their shame, have failed to take at a UK level.' But on other matters, the SNP's claims to be 'tackling the cost of living crisis' seem a lot weaker. For example, Swinney claims that: 'We are offering solutions to the ongoing cost of living crisis – with new policies such as the removal of peak fares on our railways. Our cost of living guarantee delivers savings for Scots that aren't available elsewhere. From council tax that is 30% lower than in England, or water bills 20% lower, or no charges for essentials like prescriptions.' But the big-ticket items, like housing and energy bills, are absent, and only this month the SNP missed a huge opportunity to back zonal energy pricing. The SNP's housing policy has made no dent in the massive urban and rural housing crisis. Swinney has steadied the ship but it is still taking water, and the sextant, compass and maps are all gone. But the point of all of this is to manage a range of constituencies, tribes and demographics, to ensure electoral survival and persuade people that, somehow, the SNP are still the only show in town and the best vehicle to achieve independence, and/or govern a pre-independent Scotland more competently than anyone else. In some ways, this is an impossible task. In other ways, this is a low bar. On the one hand, Swinney needs to manage this transition while operating within the fiscal restraints of devolution, with an overwhelmingly hostile media around him and with severe and vocal dissent from within the nationalist movement. This makes the task one that is just immersed in hostility and negativity. On the other hand, he is faced with opponents and opposition so abject and hopeless that it makes the SNP rise, Lazarus-like, over and over. Swinney has a dual task: to speak to those who want (and need) good governance and those who want movement-building. He is far better at the first than the second. His strategy, such as it is, is broadly to (re) build trust, then build an unstoppable coalition amid the rubble and decay of the debris of Late Britain for an independent Scotland. I would like to take this opportunity to examine this approach and evaluate its strengths and weaknesses. Building a Coalition for Yes TO his credit, Swinney shows some humility saying: 'Our renewed unity and sense of purpose is clear for all to see, and that too is giving people confidence once again in the [[SNP]], as the leading advocates of Scottish independence. Some good and necessary first steps have been taken, but they have only brought us to the starting line.' Rather grandly, he writes: 'We are on the precipice of a new global age and that demands a bold new path for Scotland.' I don't really know what that actually means? Speaking to the opposition, he writes: 'Others speak glibly of a new direction or for the need for reform, but the change Scotland needs is more fundamental', before declaring: 'To meet the challenges of this new age, we need a Scotland that is reborn.' We do. He continues to lay out his case, arguing: 'Last time, many people gave the UK the benefit of the doubt, many believing that an incoming Labour government might put things right. But an incoming Labour government has only made things worse. 'The evidence is staring us in the face: Westminster is not working for Scotland. Life is just too difficult for too many and the UK is incapable of providing the required, essential boost to living standards.' This is self-evident, though worth re-stating, but this is where the cracks in the argument begin to emerge. At no point in this new declaration do the SNP show the intent, the resolve or the track record to offer a genuinely radical economic alternative to the neoliberalism of Labour/Conservative rule. What they have shown is some ameliorative polices to try to counter the most regressive impact of being in the Union. But that's not enough. Without many specifics, Swinney argues: 'It's therefore time for the people of Scotland to take our future into our own hands, so that we can ensure our vast energy wealth delivers tangible benefits for our people, including lower household energy bills and a more competitive business environment. So that we can create a dynamic, internationally connected economy, ensuring opportunities for all in an economy that works for all.' This is, in the words of Jonathon Shafi, 'Word Soup'. Having set out his stall, the First Minister then attempts to lay out his pathway to independence. He says: 'We have to challenge the democratic outrage that Westminster – right now – refuses to acknowledge Scotland's right to determine her own future. 'We demonstrated in 2014 that an agreed democratic referendum is the correct means to bring about that independence. And have no doubt, such a democratic, constitutional approach is necessary if our independence is to achieve domestic and international legitimacy. Something that is essential if we are to receive international recognition and a smooth return to membership of the EU.' These words, this plan, are the dividing line between those in the Yes movement, who want a new plan, a new direction, and Swinney's calculation that this is the route to take the majority of Scotland with him. The Plan SWINNEY lays out his ideas very clearly, saying: 'First, it will be a campaign designed to build the highest levels of support possible for independence as the best future for Scotland. 'I will be saying to those who voted Yes in 2014, and who have become independence supporters in the years since, that what they believed in then is just as valid today. 'They saw that Britain was fundamentally broken, that Westminster couldn't deliver on their dreams and aspirations, and what they saw has come to pass. And now it is time to do something about it. 'But I will also be urging people who were not persuaded of the merits of independence in 2014 to see the state of Britain today and take a different view.' This is all good and shouldn't be disputed by anybody. Who doesn't want to build mass support for independence? The problem, as we'll go on to in a moment, is the lack of detail, ideas or strategy on how to make that happen and to navigate the many contradictions and challenges that it entails. He continues: 'Second, that means building public pressure around Scotland's fundamental national rights. The UK parties speak of a partnership of equals, but those are empty words if Scotland does not have the ability to determine her own future. 'We are ready to turn the heat up on Westminster and its anti-democratic stance, mobilising the support, energy and the impetus of people in Scotland behind the simple idea: no ifs, no buts, Scotland has the right to choose.' This is good, and he's quite right to lay out the basic anti-democratic nature of the British state's 'offering' to Scotland. But again, the problem is the lack of detail, ideas or strategy. There may be more to come but if there was, why not lay it out here? Finally , the First Minister concludes: 'And third, I want to persuade independence supporters that the way to deliver independence is only with an emphatic SNP win in 2026 and the priority is to do that now. History tells us that only when the SNP are doing well is there any prospect of advancing on Scotland's constitutional cause. 'During the next parliament, we reach the point where there will be one million people eligible to vote who, last time around, were too young to do so or not even born. A generation has now clearly passed. 'It's time for the one change that will actually make a difference for Scotland, for the fresh start our nation needs so badly. It's time for Scotland to craft her destiny by ensuring Scotland's future is in the hands of the people of Scotland.' To be fair, framing the SNP as a 'fresh start' after 18 years in power is pretty gallus, but there is something among all of this which shines out, and which could be the centrepoint of a more dynamic strategy. Future Focused MUCH of the dismay about being trapped within the Union is the overwhelming sense of decay and decline that pervades late Britain. If this feeling reached its apogee at the death of the monarch, it can be seen daily in the appointment of ridiculous people to the House of Lords, the overarching power of the government within [[Westminster]] (as witnessed by the actions of Keir Starmer's whips' office against his own party last week) or the immersive deference inculcated by being subjects of a monarch in the 21st century. The feeling of being trapped in an ancient regime that is unreformable and corrupt at its core is overwhelming and debilitating. Beyond this fusion of cronyism and decay, though, is the reality of collapsing living standards, grotesque social inequality and elite grandeur. The response is a populist movement of the far-right that eulogises a mythical past. In among the platitudes and the normcore of Swinney's 'plan', there is an opportunity to really contrast this backward-looking Ruritania, this Britain of fossils and past-glories and relics of Empire. Countless commentators have remarked on how difficult it has become for anyone to 'imagine a better future' in timelines that seem dark and economic systems that seem all-pervasive. There is a glaring opportunity for the case to be made for a new Scotland to really address the multiple problems facing not just young people but future generations – and for this case to be made by framing Scottish independence as a future-facing project in stark contrast to broken Britain. What would that look like? It would mean really taking on the multiple problems faced by younger (and future) generations, which have been a dark inheritance passed on to them. A mammoth, impossible task? Yes, but one worth trying. Where to start? I would start with the crisis of affordable housing which is life-altering for millions of people. I would face the existential crisis of climate breakdown and create deep and radical action plans that would give hope and meaning for a liveable future. I would create the outline of what an 'ethical foreign policy' (to use Robin Cook's words) would look like for a future Scotland. I would begin to meaningfully address the crisis of social alienation and the epidemic of loneliness and mental health that has spooled out of lockdown, late capitalist anomie and digital culture, and particularly affects younger people. If these seem ridiculous, impossible or utopian ideas, that's OK. In such dark times, we need to imagine a better future beyond the confines of today. As the political philosopher Murray Bookchin said: 'The assumption that what currently exists must necessarily exist is the acid that corrodes all visionary thinking.' Framing an independent Scotland as a project for future generations would be a reset for the entire independence movement, and would require a complete overhaul of thinking. But somehow, somewhat improbably, Swinney has stumbled on an idea: "During the next parliament, we reach the point where there will be one million people eligible to vote who, last time around, were too young to do so or not even born. A generation has now clearly passed.' This has two consequences. First, we begin to sweep aside the fragile excuse that the Unionist community has hidden behind for repressing basic democracy in holding up the phrase 'for a generation' and assert that that time has passed. Second, we go to, engage with and inspire the generation that are now eligible to vote, and who are overwhelmingly pro-independence. To do this properly, and to begin to explore the generational issues I touched on, would require a break from 2014 and an effort to re-imagine the case for independence in a much more expansive timeframe. This wouldn't be another 'campaign' with slogans and attack lines, it wouldn't be a politics of resentment, it would be a politics of imagination and possibility. That Britain is in a morbid state is plain for anyone to see, but that must be contrasted with a movement that offers not just a constitutional off-ramp but an alternative to the politics of fear and resentment that activates the populist right. In this sense, we need to rethink the case for independence and recast it entirely. In the words of Marshall McLuhan: 'Most of our assumptions have outlived their uselessness.' Remaining in this Union means being engaged in the 'slow cancellation of the future'. For Scotland to be 'reborn' demands that we step out of that paradigm and away from the hyper-nostalgia and denialism that characterises the most regressive elements of British and American nationalism.
The Herald Scotland
4 hours ago
- The Herald Scotland
Landlords must lose the fight over Scotland's rent controls
Last year, the government declared a national housing emergency, recognising record levels of homelessness, the toll high rents are taking on tenants, social housing waiting lists of nearly a quarter of a million across Scotland, and disrepair rampant across our housing stock. Yet as Professor Duncan Maclennan points out, the 'housing emergency' is a misnomer. Read More: This so-called emergency did not happen overnight; it has been created by design through the privatisation of our housing stock and unregulated growth of the private rented sector. Scotland's tenants have faced the hard end of these economic decisions for decades, and bold structural solutions are urgently needed in response. Tenants don't have time to wait. Rent controls, as outlined in the Housing Bill, are an important first step towards ending decades of housing misery. Robust, universal rent controls which have the ability to bring rents down could begin to transform our housing system by making private rented accommodation more affordable and disincentivizing exploitative landlordism overall. It's important to state that forms of rent control seen in recent temporary measures have included too many loopholes for landlords to exploit. Any exemptions to upcoming rent controls would create a multi-tier system, leaving thousands of tenants open to unregulated rents and undermining future policy efforts. The current consultation on rent controls has laid bare the Government's intention to appease landlords by introducing significant exemptions to rent controls. Ruth Gilbert, national campaign chair of Living Rent (Image: Newsquest) At this last hurdle rent controls are under threat. Since the government first committed to rent controls, the landlord and developer lobbies have eroded support for proper regulation of the private rented sector among politicians. The constant barrage of criticism - combined with empty threats of a mass exodus of landlords - have pushed a pliant government into conceding to appease the market at the expense of tenants. The most egregious exemption proposals concern 'build to rent' developments. The government has proposed a suite of amendments designed to encourage these sorts of developments, but this dangerous trend towards large-scale private developments is not something they should sensibly support. Build to rent properties are expensive, and beyond the reach of most tenants. Anyone who has walked through either Glasgow or Edinburgh recently will have seen these buildings springing up alongside billboards that promise convenient locations, fun perks, and luxury accommodation. Worryingly, this is just the start of the build to rent boom, over 3,800 units have been built, and there are 12,767 still in the pipeline. This explosion of the sector should highlight that it does not need any further government incentives. Indeed, across the UK the industry received over £1bn in investment from North America in the last quarter of 2024 alone. Developers' push for exemptions only highlights the business model they are touting. The bill, as introduced, already allows for above inflation rent increases, and so lobbyists' greedy demands for more exposes a model that is more concerned with creating dividends for overseas investors than delivering on the needs of Scotland's people. The government is deeply misguided if it thinks that expensive, luxury accommodation is going to fix our housing emergency. These are development sites which can and should be used for much-needed and genuinely affordable housing for social rent. Also proposed for exemption are mid-market properties. Mid-market tenants are some of the most vulnerable in our housing system. Apparently designated for tenants with low to middle incomes, mid-market properties exist to ensure that those unable to afford rents in the private sector and who cannot access social housing are able to better afford their housing costs. By threatening to exclude mid-market tenants from rent controls, this will see mid-market landlords able to increase rent however high they like with tenants left with no recourse to challenge it. For example, this summer at Water Row mid-market development in Govan, tenants were hit with a 10.6% rent increase after being given a rent increase of 39% before they had even moved in. The rent increase was delivered despite a previous commitment to keep rent below the local housing allowance. However, tenants had no legal recourse to challenge. It was only through Living Rent members organising together and fighting back did the landlord eventually concede and cancel the rent increase. This government needs to stop listening to the empty threats of landlords and legislate to protect those who have been most impacted by decades of mismanaged housing policy. Scotland's tenants need universal and comprehensive rent controls that bring rents down. Anything short of this will ruin the housing bill, undermine the possibility of a more just housing system for years to come, and damage the wavering trust that Scotland's tenants have that politicians will take the urgent action needed to end the national housing emergency. Ruth Gilbert is the national campaign chair of Living Rent
BBC News
6 hours ago
- BBC News
Sadiq Khan says his mission to Africa will boost London business
Three countries and five cities in six days. London's mayor has certainly put a few miles on the clock in the past week in Sadiq Khan is the first mayor of the capital to go on a trade mission there - taking in Nigeria, Ghana and South him were about 30 businesses and representatives from London and Partners - the capital's so called growth agency that aims to attract investment previous mayors Ken Livingstone and Boris Johnson, who went on similar trade missions, he has faced criticism from opponents for spending time out of London when there's plenty to do like previous mayors, Sir Sadiq has defended the trip as a way of promoting the capital to emerging what has he been up to on the whistle-stop tour? The trip started in Nigeria's biggest city, Lagos - and provided a chance to catch up with a number of firms from the city's growing tech sector. The message from Sir Sadiq was a clear one: partner up with London's tech firms - come and do business with perhaps of the drive during Covid when we were constantly told - "London is open".It was a message he repeated as he moved on to Accra in Ghana. Talking to students there he chose to fire a barbed message to his Labour colleagues in government - criticising proposals that could see universities having to pay a levy on international students' Sadiq talked of "the immense value international students bring to London and the UK" - and warned that "closing our country to global talent would be a pointless act of immense economic self-harm". The mayor followed that up with the promise of the first business summit between Africa and London - to be held in the capital next Dickie, the CEO of BusinessLDN, welcomed this pledge and backed the mayor's trip to Africa, saying: "London is a melting pot of communities, workers and businesses from across the globe."The mayor is absolutely right to bang the drum for closer ties with key high-growth markets. Boosting trade and investment links with the likes of Nigeria, Ghana and South Africa will benefit Londoners."As the tour started, the Conservative MP and shadow chancellor Mel Stride had suggested that the mayor should be back in London with "his hand on the tiller", addressing issues like shoplifting that affect small businesses. While BBC London is not on the current mayor's tour of Africa, I have been on similar ventures with Sir Sadiq and his predecessors Boris Johnson and Ken is interesting is the way they are generally greeted - the fact that being mayor of London is seen as a prestigious role - that London is regarded as a genuinely global can often be at odds with how they are viewed by the people in their own city. There have, of course, been mishaps along the way. Livingstone's trip to Venezuela to meet president Hugo Chavez only made it as far as Cuba. And when he was mayor Johnson had to cancel a planned visit to the West Bank after fears of that, the visits will continue whoever is mayor - as will the rows over whether such trade missions bring real value to London.
