HB Antwerp Inks Partnership With Microsoft To Trace Botswana Diamonds

HB Antwerp has partnered with Microsoft to record immutable data points across a diamond's journey, ensuring sustainability and visibility at every step. The partnership will leverage Microsoft's Dynamics 365 Finance, Dynamics 365 Project Operations, and Azure solutions, notably the Azure Confidential Ledger.

"Our use of Microsoft's technology didn't just solve a problem; it set a benchmark for transparency and trust. The Azure Confidential Ledger, Azure SQL Database, and Dynamics 365 tools facilitated meticulous tracking, transforming a technical process into an engaging narrative at the heart of our mission," HB Antwerp said in a statement.

Apart from diamond tracking, the company also stated that the technology will allow it to make accurate profit predictions, reduce errors, and optimize value creation as well as offer scalability and accessibility. HB Antwerp claims to have traced over $500 million in diamonds, and its goal for 2024 is to reach a staggering $1 billion.

"Miners and governments reap the financial benefits and consumers can see how their diamond purchases contribute to transforming Botswana’s economy and the lives of its citizens," Microsoft said in a statement. "The biggest benefit to the Botswanan government and citizens is ownership, allowing producers to reap the financial benefits of their products. And in turn, giving customers the opportunity to see how their purchases are transforming the Botswanan economy and the life of its citizens."

In March, President Mokgweetsi Masisi announced that the Botswana government had bought a 24% stake in Belgian diamond manufacturing startup HB Antwerp. According to the terms of the deal, Botswana’s state-owned diamond trading company, Okavango Diamond Company (ODC), will also enter into a five-year agreement to supply rough diamonds to HB Antwerp.

Image source: Daily News

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