Botswana to Double De Beers Stake to 30 Percent
President Duma Boko announced Botswana will double its stake in De Beers to 30 percent, becoming the company's largest shareholder through a consortium bid.
Duma Boko, the President of Botswana, announced during his 2026 State of the Nation address that Botswana plans to double its shareholding in De Beers Group from 15 percent to 30 percent. This move will establish Botswana as the single largest shareholder in the diamond company.
President Boko endorsed a bid by the Global Diamond Consortium, led by Gareth Penny, to acquire the 85 percent holding currently held by Anglo American plc. The transaction includes participation from Namibia and Angola, creating a collective ownership structure among the region's primary diamond-producing nations for the first time.
Anglo American is managing the sale as part of a strategic shift to simplify its portfolio and prioritize copper and premium iron ore. De Beers CEO Al Cook welcomed the increased commitment from Botswana, stating the move would provide consumers with confidence regarding the responsible sourcing of diamonds.
