Policy Recommendations

  • Political finance:
    • Disclosure of Botswana Democratic Party (BDP) internal financing structure including domestic and foreign entities, shareholdings, investments, donations and other inflow and outflow;
    • Cap on political finance donations related to elections and other;
    • Separation of BDP and De Beers interests including principals shared in both party and corporate structures.
  • Diamond industry:
June 30th, 2016
  • Political finance:
    • Disclosure of Botswana Democratic Party (BDP) internal financing structure including domestic and foreign entities, shareholdings, investments, donations and other inflow and outflow;
    • Cap on political finance donations related to elections and other;
    • Separation of BDP and De Beers interests including principals shared in both party and corporate structures.
  • Diamond industry:
    • Removal of monopoly, oligopies, and cartels in the diamond industry;
    • Disclosure of mining and sightholder contracts;
    • Disclosure of valuation formulas by De Beers;
    • Creation of a bespoke electronic diamond platform accessible to the public;
    • Creation of an exceptional diamond registry by value, volume, buyer/company and jurisdiction;
    • Publication of the terms, companies and benefits of GRB shareholding in De Beers.
  • National:
    • Implementing foreign exchange controls;
    • Implementing mandatory Automatic Information Exchange;
    • Strengthen anti-trust legislation in relation to monopolies, oligopolies, and cartels;
    • Publicly accessible company ownership and company accounts;
    • Publication of country-by-country reporting including names of
      1. linked companies,
      2. transactions between subsidiaries,
      3. names of beneficiaries,
      4. where companies pay tax,
      5. where companies record profits,
      6. where employees are based and wage,
      7. value, interest, and extent of loans,
      8. cost and net book value of assets in each jurisdiction,
      9. gross and net tangible assets, etc.
  • Natural sanctioning on the use of tax havens for linked company purposes – jurisdictions must pass the test of substantive economic activity relevant to the industry.
 
 

Contacts

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