Botswana to Take Over Majority Ownership of De Beers Mines


Botswana to Take Over Majority Ownership of De Beers Mines

By Noko Maleka – Insight Jozi News | 23 September 2025



Botswana is moving decisively to take control of one of the world’s most powerful diamond companies, De Beers, with plans to secure a controlling stake by next month. President Duma Boko confirmed that the government is in advanced talks with a sovereign wealth fund in Oman, alongside other potential financiers, to raise the necessary capital for the acquisition, according to Bloomberg.


Currently, Botswana owns a 15% stake in De Beers, but the new deal would increase the nation’s holding to above 50%, making it the majority shareholder (Business Insider Africa). This would mark a bold shift in global mining dynamics, positioning Botswana not only as the world’s top diamond producer by value but also as a powerful decision-maker in the industry.


 “We are engaging partners who believe in our vision of national ownership and long-term sustainability for our diamond industry. This move is about sovereignty, empowerment, and securing generational wealth for the people of Botswana,” President Boko said.


De Beers, historically dominated by Anglo American Plc, has long controlled the global diamond trade. By taking majority ownership, Botswana aims to secure more direct influence over pricing, marketing, and beneficiation policies. Analysts say the move could also help increase local value-addition, ensuring that more diamonds are cut and polished within Botswana rather than being exported raw (Mining.com).


While details of the financing structure remain confidential, President Boko confirmed that talks with Oman’s sovereign wealth fund are progressing positively, with additional private and state investors being considered.


Economists suggest the deal could run into billions of dollars, but Botswana is betting on the enduring value of diamonds and the stability of its mining sector to secure funding (Financial Times).


This development comes just months after President Boko championed regional integration policies, including easing travel restrictions between Botswana, Namibia, and Zimbabwe. His latest push for majority control of De Beers is being hailed by some as a decolonial step, ensuring that Africa benefits more from its natural resources.


If finalized, Botswana’s acquisition would represent one of the most significant shifts in the global diamond industry in decades (Mining-Technology).

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