De Beers Group has welcomed Botswana’s intention to increase its shareholding in the diamond company, with CEO Al Cook describing the country as an integral part of the business over the past 25 years.
In a statement following President Duma Boko’s State of the Nation Address (SONA), Cook welcomed the President’s remarks regarding Botswana’s position in De Beers, expressing support for the country’s ambition to increase its stake in the iconic diamond business.
Botswana currently holds a 15% shareholding in De Beers, acquired 25 years ago. The proposed increase comes as the diamond giant undergoes an ownership transition, with Anglo American leading the ongoing sales process.
Cook said De Beers welcomes shareholders with deep diamond industry experience and ambitious plans for the company’s future.
He also noted that increased Botswana ownership could strengthen consumer confidence in the responsible sourcing of diamonds, as buyers increasingly pay attention to the origins of the stones they purchase.
Meanwhile, Cook indicated that formal announcements regarding the transaction would be made by Anglo American at the appropriate time, noting that discussions and agreements are still ongoing
