Ex-AfDB Chief Adesina Chairs Botswana Fund, Joins Jumia Board

Former President of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has continued his ascent on the global development and corporate stage following his appointment as Chairperson of Botswana’s Diamonds for Development Fund, a landmark initiative designed to transform the country’s diamond wealth into long-term economic prosperity and diversification.

The appointment, jointly announced by the Government of Botswana and De Beers Group, signals a major new phase in Adesina’s post-AfDB career after completing his second term as AfDB President in September 2025. He is expected to formally assume office on June 15, 2026.

The Diamonds for Development Fund was established during tough negotiations between Botswana and De Beers which concluded in 2025 to extend diamond mining licences through to 2054 for their 50:50 mining joint venture, Debswana. The fund is designed to serve as a strategic vehicle for channeling Botswana’s diamond revenues into industrial development, innovation, job creation, and broader citizen participation in the mining value chain.

Under the arrangement, De Beers has committed to an upfront investment of BWP 1 billion ($74.4 million) in the fund, as well as annual contributions from its dividends from Debswana, based on the latter’s performance. The fund is currently in the process of finalising the appointment of independent directors to its board as the vital next step in making it operational.

The initiative builds on a broader cooperation framework between Botswana and De Beers Group, which also includes investments in a new diamond jewellery manufacturing facility, the establishment of a De Beers Institute of Diamonds grading laboratory, a diamond vocational training institute, and joint marketing initiatives to boost global diamond demand.

Speaking on the appointment, Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, described Adesina as a “reformer with a proven record of delivering transformative development outcomes”, adding that his leadership would help ensure the fund achieves its long-term national objectives.

“We are proud and honoured to have Dr Akinwumi Adesina join the Diamonds for Development Fund as Chairperson,” Kenewendo said. “His appointment solidifies the position of the Government of the Republic of Botswana to maximise the value of Botswana diamonds as an anchor for economic transformation, diversification, innovation, beneficiation and citizen participation in the diamond value chain. We draw inspiration from Dr Adesina’s achievements as an internationally accomplished reformer of strategic sectors and look forward to his impactful influence in the delivery of the fund’s bold mandate.”

Chief Executive Officer of De Beers Group, Al Cook, also said Adesina’s governance experience, international networks, and development track record made him uniquely suited to steer the initiative.

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“When we set up the groundbreaking Diamonds for Development Fund with the Botswana Government, we knew that we would need an extraordinary leader to achieve our ambition of economic diversification and job creation,” Cook said. “In Dr Adesina, I am confident we have found just that person. His track record in African development is outstanding, and his global network, commitment to strong governance and understanding of the Fund’s priorities make him the right chair to shape the Fund’s support for Botswana’s long-term economic objectives. He is a man characterised by deep integrity and outstanding delivery.”

Reacting to the appointment, Adesina said he was honoured to lead what he described as a visionary effort to ensure that natural resource wealth translates directly into improved livelihoods for citizens.

“I am greatly honoured to be appointed the chairman of the board of directors of the Diamonds for Development Fund by the Government of Botswana and De Beers Group,” he said. “The Diamonds for Development Fund represents a bold and visionary initiative to ensure that the people of Botswana benefit directly from the wealth created by diamonds. It is not only diamonds that should shine, the lives of the people of Botswana must also shine. The Fund’s success will set a global benchmark for how natural resource wealth can create enduring value for generations to come.”

He added that he looks forward to working closely with the government of Botswana and De Beers to ensure the fund contributes towards a more prosperous future for the people of Botswana.

Between 2015 and 2025, Adesina oversaw a major expansion of the AfDB’s capital base from $93billionto$318 billion —the highest level in the institution’s history. He launched several flagship initiatives, including the Africa Investment Forum, which has mobilised more than $225 billion in investment interest since its launch in 2018. He also led the implementation of the High 5 development agenda—focusing on lighting and powering Africa, feeding Africa, industrialising Africa, integrating Africa, and improving the quality of life for Africans—which the bank says has improved the lives of more than 565 million Africans.

Additionally, Adesina played a central role in advancing Mission 300, a partnership with the World Bank Group aimed at providing electricity access to 300 million Africans by 2030. Before his tenure at the AfDB, he served as Nigeria’s Minister of Agriculture, where he introduced the country’s electronic fertiliser voucher programme, which reached millions of smallholder farmers.

The appointment comes against the backdrop of Botswana’s intensified efforts to secure greater benefits from its decades-long partnership with De Beers. In recent years, Botswana has demanded the return of sightholder sales to Gaborone from London, as well as investments in labs, training centres, and manufacturing facilities. The negotiations that concluded in 2025 also resulted in a new 10-year sales and marketing agreement for Debswana’s rough diamond production, with a potential five-year extension. Under the deal, the share of Debswana’s production sold by Botswana’s Okavango Diamond Company will increase from 30% currently to 50% by 2035-40, with De Beers handling the remainder.

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Botswana, the world’s leading diamond producer by value, has long relied on the precious stone industry as a cornerstone of its economy. The new fund is expected to support efforts to diversify growth beyond mining while creating opportunities for innovation, local enterprise development, and broader participation in the diamond value chain. For De Beers, the initiative forms part of a wider effort to strengthen the developmental impact of the diamond industry in Botswana, one of its most important producing countries.

In a related development highlighting his expanding global influence, Adesina has also been appointed to the Supervisory Board of Jumia Technologies, the pan-African e-commerce company listed on the New York Stock Exchange.

Shareholders approved the appointment during Jumia’s Annual General Meeting held on May 15, 2026, alongside other board changes aimed at strengthening governance and accelerating the company’s push toward profitability. Alongside Adesina, shareholders also elected Hassanein Hiridjee, Chief Executive Officer of Axian Group, and Benjamin Faw, a US-based investor and business adviser, to the board. Meanwhile, current Chairman Jonathan Klein, co-founder and former CEO of Getty Images, and Deputy Chair Anne Ooga Eriksson were re-elected.

Adesina joins the board at a critical time as Jumia intensifies efforts to achieve adjusted EBITDA breakeven and positive cash flow by the fourth quarter of 2026, with a broader goal of full-year profitability by 2027.

The company reported strong early 2026 performance, including a 31% increase in Gross Merchandise Volume to $212.2millionanda\ast \ast 39$50.6 million, reflecting improved efficiency and a shift toward a marketplace-driven model.

Chairman Jonathan Klein said the new board composition brings together “deep African market knowledge, governance strength, and financial discipline” needed to guide the company’s next growth phase.

Adesina, reacting to his appointment, said Africa’s digital economy continues to expand rapidly and presents significant opportunities for innovation and investment, noting that Jumia has played a pioneering role in shaping the continent’s e-commerce ecosystem. Industry observers say his appointment is expected to boost investor confidence, given his extensive experience in development finance, agricultural transformation, and large-scale institutional reform during his decade-long leadership at the AfDB.

With both appointments, Adesina’s influence continues to extend across public development finance and private sector innovation, reinforcing his position as one of Africa’s most prominent development leaders on the global stage. His post-AfDB career is rapidly taking shape, with roles spanning natural resource governance, digital commerce, and sustainable development—sectors that will define Africa’s economic trajectory for decades to come.

Industry observers note that his ability to command such prominent positions so soon after leaving the AfDB reflects not only his personal reputation but also the growing recognition of African expertise in global governance and corporate leadership. The Diamonds for Development Fund, in particular, represents a test case for whether resource-rich African nations can successfully convert mineral wealth into lasting, diversified prosperity—a challenge that has eluded many countries across the continent.

Ex-AfDB Chief Adesina Chairs Botswana Fund, Joins Jumia Board

Cambodia Denies Ordering African Nationals to Leave

PHNOM PENH — A dramatic 24 hours of confusion and panic ended today with the Cambodian government issuing a firm denial regarding reports that it had ordered all African nationals, including citizens of Nigeria, Ghana, Kenya, and Uganda, to leave the country by May 31, 2026.

Earlier this week, a document purporting to be an “official notice” from the General Department of Immigration began circulating widely on social media and international news outlets. The document claimed that a visa waiver for African nationals would expire on May 31, warning that anyone found in the country from June 1 would face immediate arrest, a two-year jail term, and a fine of $8,000.

However, in a swift rebuttal on Friday, Cambodian authorities declared the document to be completely fabricated.

“Fake News”

Ministry of Interior Spokesperson Touch Sokhak categorically dismissed the reports, labeling them as an attempt to deceive the public.

“It is fake news fabricated to distort the situation and mislead domestic and international audiences,” Touch Sokhak told Xinhua News Agency.

The General Department of Immigration released an official statement clarifying that the information published on those websites is “completely untrue.” Officials confirmed that no such sweeping directive has been issued against African nationals residing in the country.

Diplomatic Confirmation

The denial from Phnom Penh was immediately corroborated by diplomatic missions representing the affected nations.

In Kenya, the ambassador to Thailand (who is also accredited to Cambodia) urged citizens to disregard the notice, stating that it is “not authentic and does not reflect any official position from Cambodian authorities.”

Similarly, Ghana’s Foreign Affairs Minister, Samuel Okudzeto Ablakwa, issued a press release confirming that diplomatic engagements had verified the document was “absolutely fake.” The Ministry noted that it is currently facilitating the voluntary evacuation of Ghanaians who wish to leave—a process that was already underway before the false notice surfaced.

How the Hoax Spread

The original fabricated notice cited senior officials, including Lt. Gen. Som Sopheak and Gen. Sar Sokha, and threatened that police would begin “arresting any foreigner at any hideout.” The sophisticated formatting of the document led several news outlets to initially report the story as fact, causing widespread alarm among African expatriate communities.

Authorities have since warned the public to verify immigration information solely through official government channels and diplomatic missions. The Royal Government of Cambodia reiterated that while it strictly enforces immigration laws, the specific threat against African nationals circulating online holds no merit.

Cambodia Denies Ordering African Nationals to Leave

Xenophobia: “South African Men Are Jealous of Us Because We Service Their Women Well in Bed” – Ghanaian Man

One of the Ghanaian nationals evacuated from South Africa by the Ghana government following reported xenophobic attacks has made a highly controversial claim about the root cause of tensions between locals and foreign nationals. Speaking after arriving in Ghana, the evacuee alleged that some South African men are jealous of Ghanaians because Ghanaians are reportedly very good in bed .

“The South African men are jealous of us because we service their women well in bed,” he claimed in remarks that have since gone viral across social media platforms . The statement, made as he touched down on Ghanaian soil, has sparked intense debate online, with some questioning the appropriateness of his comments amid a serious diplomatic crisis involving violence, business closures, and forced displacement of African migrants.

The evacuee was among the first batch of approximately 300 Ghanaians who returned to Accra on Wednesday aboard a government-organized repatriation flight . The evacuation followed weeks of escalating anti-immigrant protests and violence in parts of South Africa, which saw foreign nationals—including Ghanaians, Nigerians, Zimbabweans, and others—targeted in mob attacks, business lootings, and intimidation campaigns . Ghana’s Foreign Minister, Samuel Okudzeto Ablakwa, personally greeted the returnees at the airport, where patriotic songs were blasted over the speakers . “Wherever Ghanaians are, we will make sure you are protected,” Ablakwa assured the evacuees . The government also promised a re-integration financial package and psycho-social support for those returning home .

The controversial bedroom claim comes amid a deeply troubling wave of xenophobic violence that has swept across parts of South Africa, forcing many African nationals to abandon their businesses, homes, and communities . Viral videos have shown South Africans confronting Ghanaian migrants, accusing them of taking jobs and refusing to “fix their own countries” . In one widely circulated clip, a South African woman told a Ghanaian man: “We don’t want these African people anymore. We’re tired of seeing African migrants moving all over the world and refusing to fix their own countries”.

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Tensions have also spilled into the realm of threats and counter-threats between the two nations. In another viral video, a Ghanaian man warned that if South Africans harm any Ghanaian on a specific date reportedly tied to an ultimatum for illegal immigrants to leave South Africa, Ghanaians would retaliate by targeting MTN operations and South African women allegedly involved in prostitution in Ghana . “On that same day, we are going to protest against South Africa in this country. If they touch one Ghanaian again, we will touch two of them. If they touch three, we will touch four,” the man threatened in the video . He further claimed that many South African women are engaged in prostitution in locations such as Cantoments, near the Togo Embassy, and Lapaz in Accra .

Netizens have reacted sharply to both the evacuee’s comments and the escalating rhetoric. Some dismissed the bedroom claim as inappropriate and distracting from the real issues of xenophobia, unemployment, and structural inequality driving the attacks . Others expressed concern that such statements only fuel further hostility between Africans who should be united. One X user, reacting to the counter-threat video, said: “A lot of our ladies are missing without a trace due to human trafficking syndicates. Please report those ‘engaged in prostitution’ to your police so that they can be returned to SA” . Another user commented on the evacuee’s bedroom remarks: “This is exactly the kind of nonsense that makes us all look bad. People are dying and losing businesses, and this man is talking about bedroom performance”.

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Approximately 800 Ghanaians in total are expected to leave South Africa as Accra continues repatriation efforts . South Africa, the continent’s most industrialized economy, has long been a destination for both legal and undocumented African workers. However, saddled with an unemployment rate of over 32 percent , the country has seen repeated spurts of xenophobic and anti-migrant protests over the years . The recurring attacks have revived uncomfortable debates across Africa about xenophobia, migration, and the gap between pan-African rhetoric and the realities facing migrants on the continent .

Ghanaian President John Dramani Mahama strongly condemned the xenophobic attacks and reaffirmed Ghana’s commitment to Pan-Africanism, stating that “there is no room for xenophobia in Ghana” . Business mogul Ibrahim Mahama also appealed to affected Ghanaians to return home, saying: “I don’t want to be rich in another man’s country” . The Speaker of Ghana’s Parliament, Alban Bagbin, has also directed the Ministry of Foreign Affairs and Regional Integration to consider reopening the Ghana High Commission in Pretoria to help with evacuation and provide consular services to affected Ghanaians .

Yet, the evacuee’s bedroom claim has injected an unexpected and bizarre twist into an otherwise grim narrative of violence, displacement, and diplomatic tension. As social media continues to dissect his remarks, many are left wondering whether such statements reflect genuine sentiment, frustration, or simply an attempt at virality amid a national crisis. Some commentators have pointed out that his words, while inflammatory, may also reveal the deep frustration of migrants who feel unfairly targeted after years of building lives and businesses in South Africa .

The Ghana High Commission in South Africa has confirmed that evacuation flights will continue until all willing Ghanaians are repatriated. Meanwhile, South Africa’s Department of International Relations and Cooperation (DIRCO) has rejected accusations that the country is xenophobic, describing the recent incidents as isolated while reaffirming openness to diplomatic engagement . However, for many returnees like the man who made the controversial bedroom claim, the damage has already been done—and the journey home marks the end of a chapter in South Africa that they may never revisit .

As of the latest updates, the Ghanaian government continues to monitor the situation in South Africa closely, with officials advising all Ghanaian nationals still in the country to exercise extreme caution and register with the High Commission for potential further evacuation . The government has also called on the African Union to take a more active role in addressing the recurring cycle of xenophobic violence against African migrants on the continent .

Xenophobia: “South African Men Are Jealous of Us Because We Service Their Women Well in Bed” – Ghanaian Man