Okavango Diamond Company

What Okavango Diamond Company does

Okavango Diamond Company (ODC) is a rough diamond marketing company wholly owned by the Botswana Government that serves as the direct-to-market channel for 30% of Debswana's run-of-mine production, which itself accounts for 98% of Botswana's diamond output. The company operates three structured sales channels: Spot Auctions (10 competitive online auctions per year open to all registered international and local buyers), Citizen Tenders (closed tenders restricted to Botswana citizen-owned companies with 51%+ local shareholding), and a newly launched Contract Sales channel (pilot Q4 2025, full implementation Q1 2026) offering qualifying customers two-year long-term supply agreements.

ODC's commercial operations are anchored at its Diamond Technology Park headquarters in Gaborone, which houses 12 well-equipped showing rooms where customers conduct in-person viewings before bidding. Bidding is conducted through an online auction platform developed by Power Auctions LLC using a Second Price Ascending Clock mechanism with proxy bidding and real-time market feedback. The typical sale exceeds 300,000 carats, covering the full range from rare high-value single stones to lower-quality industrial goods.

The business model is transaction-based: revenue is generated through the purchase prices paid by winning bidders, supplemented by small administrative fees (PSDL licence at $60 valid up to three years, and Kimberley Certificate at $60 per shipment). Annual sales are reported in the region of $500-900 million per annum. ODC's customer base spans registered diamond trading companies globally (with operating geographies in Africa, Europe and the Middle East), local citizen-owned companies, and prospective contract customers. Sub-brands include Okavango Blue.

Name

Okavango Diamond Company

Legal name

Okavango Diamond Company (Pty) Ltd

Website

https://odc.co.bw

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Okavango Diamond Company is a Botswana Government-owned rough diamond marketing company that sells 30% of Debswana's production via 10 annual spot auctions, citizen tenders, and new contract sales, serving registered international and local diamond trading companies.

Ownership category

akta.pro rank

Product category

Rough Diamond Marketing

NAICS

Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers (423940)

SIC

Wholesale-Jewelry, Watches, Precious Stones & Metals (5094)

akta.pro primary industry

Rough Diamond Trading & Brokerage (CRAKAJAC)

akta.pro secondary industry

Diamond/Gemstone Auction Houses & Tender Platforms (CRAKAJAI)

Keywords

• Rough diamond sales
• Diamond auctions
• Diamond marketing
• Gemstone trading
• Mineral commodity sales

Headquarters

HQ city

Gaborone

HQ country

Botswana

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Rough Diamond Sales - Spot Auctions: ODC generates revenue through the sale of rough diamonds via competitive auctions. The company sells 30% of Debswana's run-of-mine production, offering the full range from rare high-value single stones to lower quality industrial goods. Sales are conducted 10 times per year with typical sales exceeding 300,000 carats per auction. Revenue is generated through the purchase price paid by winning bidders.
2. Contract Sales: New long-term supply contracts offering qualifying customers consistent rough diamond supply through formal agreements. The first contracts are expected with a pilot phase in Q4 2025 and full implementation in Q1 2026. Contract terms are 2 years with pricing reflective of market rates.
3. Citizen Tenders: Exclusive closed tenders for citizen-owned companies (51%+ Botswana citizen shareholding) providing local access to rough diamond parcels under competitive bidding. Bids must be submitted electronically with pricing in US$/carat.
4. Licensing and Administrative Fees: Revenue from Precious Stones Dealer's Licence (PSDL) fees ($60, valid for up to three years) and Kimberley Certificate fees ($60 per shipment) for export documentation.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Okavango Diamond Company markets and sells rough diamonds sourced from Debswana (30% of run-of-mine production) to a global customer base through three structured channels: Spot Auctions held 10 times per year, exclusive Citizen Tenders for Botswana citizen-owned companies, and newly introduced Contract Sales for long-term supply. Sales typically exceed 300,000 carats per auction and generate revenue in the region of $500–$900 million per annum.

Product overview

Okavango Diamond Company (ODC) operates three distinct sales channels for rough diamonds sourced from Botswana via Debswana (accounting for 98% of Botswana's diamond production). The primary channel is Spot Auctions, held 10 times per year, where registered customers participate in competitive online bidding following in-person viewings. Citizen Tenders provide exclusive access for citizen-owned Botswana companies. The newly introduced Contract Sales channel offers qualifying customers long-term supply agreements for consistent rough diamond access. The company typically sells in excess of 300,000 carats at each sale.

Differentiator

Problem solved

Functional benefit

Brands

• Okavango Blue: A sub-brand/associated brand for a specific diamond product line, with its own website at okavangoblue.com

Products and services

• Spot Auctions

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• DebswanacoreStrategic or Co-development PartnerDebswana is Botswana's flagship diamond mining company accounting for 98% of the country's diamond production. ODC sells 30% of Debswana's run-of-mine production, offering the full range from rare high-value stones to industrial goods. This partnership forms the core of ODC's supply and business model as the largest source of guaranteed Botswana production.
• Power Auctions LLCcoreTechnology or IntegrationPower Auctions LLC developed ODC's online auction platform - a user-friendly, secure, and fully auditable system. The platform operates a Second Price Ascending Clock auction mechanism with real-time market feedback and proxy bidding capabilities.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lucara Diamond Corp: Canadian-listed diamond producer operating the Karowe mine in Botswana. Lucara sells its rough production through HB Antwerp and tender platforms, making it a direct comparable as a Botswana-based rough diamond seller with similar product range and buyer audience.
• Dominion Diamond Mines: Canadian-focused rough diamond producer (formerly part of Harry Winston) operating the Ekati mine. Dominion historically sold its rough production through tender processes to international cutting centres, comparable in mechanism and customer base to ODC.
• Alrosa: Russia's state-controlled rough diamond mining and marketing major and the world's largest diamond miner by carats. Alrosa operates its own rough diamond sales platform with long-term contract customers, directly competing with ODC for global sightholder and auction buyers of rough supply.
• Mountain Province Diamonds: Canadian-listed rough diamond producer (Gahcho Kué mine in partnership with De Beers). Mountain Province sells production through rough diamond tenders and contract mechanisms, with a similar mid-tier producer profile and comparable buyer base to ODC.
• Gem Diamonds: Operator of the Letšeng mine in Lesotho, known for producing large, high-value rough diamonds. Gem Diamonds sells its production through regular tenders — directly comparable to ODC's tender and auction mechanism for premium rough supply.
• Petra Diamonds: London-listed diamond mining group operating the Cullinan, Finsch and Koffiefontein mines in South Africa. Petra conducts regular rough diamond tenders through its dedicated sales platform, comparable in mechanism (tender-based rough sales to international buyers) and customer base to ODC's operations.

Broad incumbents

• De Beers Group: The world's leading rough diamond producer and marketer. De Beers is the most direct comparable to ODC — it is ODC's sibling entity via the Debswana joint venture (Debswana is owned 50/50 by De Beers and the Botswana Government) and runs the global sightholder rough diamond sales system that competes head-to-head with ODC's spot auctions.
• Rio Tinto Diamonds: Operator of the Argyle mine (historically) and Diavik mine, with a dedicated rough diamond sales division marketing diamonds through tender and contract mechanisms. Comparable to ODC as a major rough diamond seller running its own sales platform and buyer relationships.

Emerging players

• HB Antwerp: Belgian diamond manufacturing and rough diamond sales platform that has partnered with multiple producers (including Lucara) for direct rough sales. Comparable to ODC as an alternative rough diamond sales channel targeting cutting centres with technology-enabled buying.
• Sotheby's Diamonds: Major international auction house with a dedicated diamonds and jewellery auction business. While Sotheby's focuses on polished and finished jewellery (vs ODC's rough), the auction platform mechanics, buyer engagement model and international buyer base are directly comparable to ODC's auction operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/OkavangoDiamondCompany
• LinkedInlinkedin.com/company/okavango-diamond-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Okavango Diamond Company