Botswana and Angola Set Their Sights on De Beers as Africa Seeks Greater Control of Its Diamond Industry
Africa’s diamond-producing nations are pushing for a bigger say in the future of De Beers, as Botswana and Angola position themselves to gain greater influence over one of the world’s most recognisable diamond companies.
The development comes as Anglo American, the current majority owner of De Beers, moves to sell its 85% stake in the diamond business as part of a broader strategy to focus on other commodities.
Botswana, which owns the remaining 15% of De Beers and supplies roughly 70% of the company’s rough diamonds, has expressed strong interest in increasing its ownership. President Duma Boko has previously argued that Botswana should have greater control over an industry that is central to the country’s economy.
The stakes are particularly significant for Botswana, one of the world’s major diamond-producing countries. The country has also been home to some of the most spectacular diamond discoveries in recent history.
In August 2024, a 2,492-carat rough diamond was recovered from the Karowe mine in Botswana. Later named Motswedi, the stone was confirmed by the Gemological Institute of America as the second-largest diamond ever discovered, behind the 3,106-carat Cullinan diamond found in South Africa in 1905.
Angola has also entered the race.
The country’s state-owned diamond company, Endiama, submitted a proposal to acquire a stake in De Beers. Earlier reports indicated that Angola had offered to acquire Anglo American’s majority holding, but Angola’s government subsequently clarified that its current proposal is for a fully financed strategic minority stake and is intended to form part of a broader pan-African consortium.
Angola’s interest reflects its growing importance in the global diamond industry. The country has been working to expand its diamond production and strengthen its position across the value chain. De Beers itself has also returned to exploration in Angola, where it announced a major kimberlite discovery in 2025 in partnership with Endiama.
The potential restructuring of De Beers therefore represents more than a corporate transaction. For Botswana and Angola, it is also about who gets to shape the future of an industry built around resources found on African soil.
For decades, African countries have produced some of the world’s most valuable diamonds, while international companies have played dominant roles in mining, marketing and distribution. The current De Beers sale has opened a new conversation about whether African producers can move beyond simply supplying raw materials and secure greater ownership and influence throughout the diamond value chain.
The outcome of the De Beers sale could consequently have major implications for the future of Africa’s diamond industry.
If Botswana, Angola and other African diamond-producing countries succeed in securing greater stakes and influence, the deal could mark a significant shift in the balance of power within the global diamond business.
Source: Thepressradio.com
