DiamondBuzz
Namibia wishes to acquire a minority stake in De Beers
Namibia has entered negotiations to acquire a minority stake in De Beers, with cabinet approval granted in principle for a three-nation African consortium bid.Target stake: 10–15% at an estimated cost: NAD 9.8–14.8 billion ($570–860 million)
Namibia is coordinating with Angola and Botswana to pool resources for the acquisition, recognizing that individual financial capacity limits their ability to secure meaningful ownership. Anglo American currently owns 85% of De Beers, a stake that has been on the market since 2024. Botswana, which already holds the remaining 15%, has expressed interest in increasing its share and potentially securing majority control. Meanwhile, Angola—initially exploring only a minority position—has unexpectedly escalated its ambitions by placing a bid for Anglo’s entire 85% stake.
Financial capacity remains the primary concern. Namibia acknowledges that collaboration is essential to transform regional diamond production into regional diamond ownership.
DiamondBuzz
Botswana Looks Beyond Rough Diamond Sales, Eyes U.S. Jewelry Market
The Duty Exemption By US Presents An Opportunity For Domestic Jewelry Manufacturers In Gaborone To Bypass Traditional Middle-Market Hubs and Establish A Direct Pipeline To American Consumers
Grappling with a painful downturn in global rough-diamond demand, Botswana is pivoting its economic strategy: expanding up the supply chain directly into American retail shelves while leveraging its resource wealth to fund conservation and diversification.
Speaking on the sidelines of New York Climate Week, Bogolo Joy Kenewendo, Botswana’s Minister of Minerals and Energy, highlighted the southern African nation’s plan to capitalize on a 0% import-tariff rate to the U.S. market. The duty exemption presents an opportunity for domestic jewelry manufacturers in Gaborone to bypass traditional middle-market hubs and establish a direct pipeline to American consumers.
shift The push into value-added manufacturing comes as the world’s top diamond producer by value navigates a broader structural Diamond revenues have long formed the bedrock of Botswana’s post-independence balance sheet, underwriting universal secondary education and tuition-free university funding. However, recent market volatility has underscored the vulnerabilities of a mono-sectoral economy.
Under the Botswana Economic Transformation Programme (BETP)—an initiative spearheaded directly by President Duma Boko and his vice president—the government is directing resources toward manufacturing, agriculture, and broader mining sectors to reduce its heavy reliance on rough diamond sales.
To support its luxury exports, Botswana is recalibrating its brand narrative around origin, environmental stewardship, and social impact. The country recently announced a five-year extension of the “Okavango Eternal” partnership alongside De Beers Group and the National Geographic Society. The initiative aims to protect the ecological integrity of the Okavango River Basin while tying diamond purchases to conservation efforts.
With De Beers currently facing an impending ownership change, officials remain optimistic that any capital restructuring could bring additional funds into Botswana to accelerate its domestic economic transition.
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