Botswana says De Beers stake would double to 30% under proposed sale

Monday 9th November 2026

Botswana President Duma Boko speaking at the World Economic Forum in January 2025
Botswana President Duma Boko at the World Economic Forum on 22 January 2025. File image from World Economic Forum video via Wikimedia Commons, CC BY 3.0.

By inAfrika Newsroom

Botswana would double its holding in diamond producer De Beers to 30% if the proposed sale of Anglo American’s stake goes through, President Duma Boko told parliament on 9 November. The government currently holds 15% and supports the sale to the Global Diamond Consortium, Reuters reported.

Anglo American owns the other 85% and put De Beers up for sale in 2024 as part of a broader restructuring. Botswana has a right of first refusal on the stake. The consortium is led by Gareth Penny, a former chief executive of De Beers.

Boko told lawmakers that the governments of Namibia and Angola would participate in the transaction. Anglo American told Reuters it would continue working with the consortium and the governments toward binding transaction documents.

The planned increase would make Botswana the largest individual shareholder, according to Boko. The stake gives the country exposure to De Beers’ natural diamond operations and to Element Six, its synthetic diamond business.

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