GABORONE, June 5 – Botswana is holding discussions with investors from the United Arab Emirates and Oman as it seeks to acquire a strategic stake in global diamond producer De Beers Group.
The move comes as mining giant Anglo American advances plans to divest its 85% ownership in De Beers as part of a broader corporate restructuring strategy.
President Duma Boko said in an interview with Bloomberg that the government is engaging potential partners in the Gulf region to help finance the acquisition, which Botswana views as strategically important for the country’s long-term economic interests.
Botswana is one of the world’s leading diamond-producing nations, with diamonds accounting for a significant share of export earnings, government revenues and foreign exchange inflows.
The country already owns a 15% stake in De Beers through its long-standing partnership with the company and has historically played a central role in the global diamond industry.
The latest discussions reflect Botswana’s ambition to deepen its influence within the diamond value chain at a time when ownership changes are being considered.
Earlier this year, President Boko traveled to Oman as part of efforts to explore financing options and engage potential sovereign wealth fund partners interested in supporting the transaction.
The government has previously indicated that increasing its ownership in De Beers could help secure greater national participation in the future direction of the company and strengthen Botswana’s position within the global diamond market.
Anglo American is currently evaluating options for the sale of its controlling stake, with reports indicating that the company has begun shortlisting potential bidders.
The planned divestment is one of the most closely watched transactions in the global mining sector, given De Beers’ historic role as one of the world’s largest diamond producers and marketers.
For Botswana, securing a larger stake in De Beers could provide greater strategic influence over a sector that remains critical to the country’s economic development.
The discussions also highlight growing investment ties between African countries and Gulf sovereign wealth funds, which have become increasingly active across sectors including mining, infrastructure, energy and logistics.
As the sale process progresses, Botswana’s efforts to attract financing support from the UAE and Oman underscore the government’s determination to maintain a significant role in shaping the future of one of the world’s most iconic diamond companies.
