President Duma Boko has announced that Botswana will double its shareholding in De Beers from 15% to 30%, positioning the country as the single largest shareholder in the global diamond company.
Delivering his State of the Nation Address this afternoon, Boko said government, through the Office of the President and the Minerals Development Company Botswana (MDCB), had selected the Global Diamond Consortium as its preferred bidder for Anglo American’s 85% interest in De Beers.
The transaction follows Anglo American’s decision to divest its stake in the diamond business, prompting Botswana to pursue greater ownership and strategic influence over one of its most important economic assets.
Boko said the negotiations were guided by five principles, including sustainable profitability, greater national influence, local beneficiation, financial prudence and the transaction’s ability to meet international regulatory requirements.
He said the increased stake would give Botswana greater influence over De Beers’ strategic decisions, while strengthening the country’s participation across the diamond value chain.
The President emphasised that the investment was not merely about protecting natural diamond interests but also securing Botswana’s economic future through greater ownership and participation in the industry.
