Botswana intends to double its shareholding in De Beers Group from 15% to 30%, becoming the diamond company’s single largest shareholder under a proposed acquisition of Anglo American’s controlling interest, President Duma Boko announced on Monday, 9 November 2026.
Delivering his State of the Nation Address in parliament, Boko said his government had selected the Global Diamond Consortium (GDC) as its preferred bidder for Anglo American’s 85% interest in De Beers.
The proposed transaction will also involve Namibia and Angola, bringing three of southern Africa’s diamond-producing countries into the ownership arrangement.
“Botswana’s shareholding in De Beers will double from the current 15%. Botswana will become the single largest shareholder in De Beers,” Boko said.
The president said the government’s decision to support the consortium was part of its efforts to secure a greater role in the ownership and future direction of the diamond company.
He confirmed that Namibia and Angola would participate in the transaction, although he did not disclose the size of their proposed shareholdings or the financial commitments involved.
The announcement represents a significant development for Namibia, which already has extensive diamond mining interests through its partnership with De Beers.
The Namibian government and De Beers jointly own Namdeb Holdings, which incorporates the country’s land-based and offshore diamond mining operations.
Participation in the proposed acquisition would give Namibia an additional ownership interest in De Beers itself, extending its involvement beyond its existing mining partnership.
Boko’s announcement comes as Anglo American seeks to dispose of its 85% holding in De Beers, a company whose operations span several diamond-producing countries, including Botswana, Namibia, Angola, South Africa and Canada.
The president’s endorsement of the Global Diamond Consortium places Botswana at the centre of the proposed ownership restructuring.
The consortium is led by former De Beers chief executive Gareth Penny, who previously headed the diamond producer.
Although Botswana already owns 15% of De Beers, its proposed increase to 30% would make it the company’s largest individual shareholder once the transaction is completed.
Boko also identified opportunities beyond natural diamond mining as part of Botswana’s interest in the company.
He highlighted Element Six, De Beers’ synthetic diamond business, and its potential role in supplying advanced technology industries.
The president said Element Six would participate in a planned US$600 million synthetic diamond manufacturing facility in the United States.
Synthetic diamonds have industrial applications, including high-performance computing, artificial intelligence and data centre technologies.
Boko indicated that Botswana’s investment in De Beers was therefore intended to provide exposure to technological opportunities alongside the company’s traditional diamond operations.
He also referred to discussions with United States Commerce Secretary Howard Lutnick concerning a potential technology partnership involving Element Six.
The proposed acquisition has not yet been concluded. Botswana’s increase to 30%, together with the participation of Namibia and Angola, remains dependent on the completion of the transaction.
The president did not disclose the acquisition price, the funding arrangements for Botswana’s additional shareholding or the proposed ownership percentages for Namibia and Angola.
