Afripoli

Botswana to double its De Beers stake to 30%

10 November 2026

Botswana will raise its stake in De Beers from 15% to 30% once Anglo American sells its 85% holding to the Global Diamond Consortium, President Duma Boko told parliament on 9 November. Botswana would become the largest shareholder; Boko said Namibia and Angola would also take part, and Anglo said it would work towards binding agreements with the consortium, led by former De Beers chief Gareth Penny. Anglo put De Beers up for sale in 2024 as prices fell; in October, Bloomberg reported Botswana was expected to settle at about 25%. A larger stake gives Botswana, which supplies about 70% of De Beers’ rough diamonds according to Reuters, more control over sales but deeper exposure to a weak market.

Business & Technology · Tags: Botswana, Namibia, Angola, De Beers, Anglo American, Global Diamond Consortium

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