ABN AMRO Bank N.V. has revealed that it will close its office in Botswana which currently includes a small team from International Diamond and Jewelry Group (ID&JG).

The bank, which finances diamond businesses, said whilst recognising the important and favourable position of Botswana within this sector, ‘the scale of the bank’s operations in the country in the context of its global platform is too limited to be sustainable’.

“Clients are being informed. ABN AMRO is actively engaging in a dialogue with each client to find an optimal solution, related to the continuation of the business in the region from other locations,” ABN said.

The ID&JG operations in Botswana are subsidiaries of ABN AMRO Bank N.V and employ four people.