Botswana and Angola are set to begin high-level negotiations over their respective interests in De Beers, the world’s leading diamond company, as both southern African nations push for greater ownership and influence in the global diamond value chain.
According to Bloomberg, the talks, expected to take place in November 2025, will center on potential strategic alignments and how each country could leverage its position within the diamond industry. Botswana, which already owns a 15% stake in De Beers through its partnership with Anglo American, has recently expressed interest in acquiring a larger share if Anglo proceeds with a potential divestment.
Angola, on the other hand, is reportedly seeking to acquire a majority stake in De Beers to strengthen its foothold in diamond production and marketing. Sources familiar with the matter told Financial Times that Angola’s state-owned diamond company, Endiama, has initiated early-stage consultations with international advisers to assess financing options for a potential bid.
Both countries have in recent years emphasized the need to localize diamond beneficiation, ensuring more cutting, polishing, and value addition occur within Africa. Botswana’s President Mokgweetsi Masisi has repeatedly underscored the importance of retaining more economic value from the country’s mineral wealth, while Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, has called diamond sector reform “a cornerstone of Angola’s economic diversification agenda.”
Industry analysts say that any shift in De Beers’ ownership could reshape the global diamond market. As reported by Reuters, Anglo American’s strategic review of its assets, including its stake in De Beers, has fueled speculation of a potential sale or restructuring, a move that could redefine Africa’s role in the global diamond supply chain.
