Botswana Plans to Increase De Beers Stake to 30% Under Proposed Sale

President Duma Boko outlined the plan in his November 9 State of the Nation Address. Botswana’s government news service reported that the government had selected the Global Diamond Consortium as its preferred bidder for Anglo American’s 85% stake.

De Beers said CEO Al Cook attended the address and welcomed Botswana’s intention to increase its shareholding. The company described Botswana as a longstanding shareholder and partner. The proposed ownership change is not a completed transaction.

Botswana already owns 15% of De Beers, while Anglo American holds the remaining 85%.