Botswana seeks greater control of De Beers as Anglo American plans exit

Botswana plans to raise its ownership level in De Beers, aiming to secure more leverage over the world’s leading diamond producer. Anglo American disclosed its intention to sell its portion of De Beers, and Botswana possesses a pre-emptive right to acquire the stake, though it has not yet clarified whether it will bid alone or with other interested parties. The country’s economy, heavily reliant on diamonds, has contracted in recent years, with GDP shrinking in 2024 and 2025 and public debt rising sharply.

A World Bank report highlighted pressures from changing consumer preferences, lab-grown diamonds and lower global demand. Botswana’s leadership views greater control of De Beers as a strategic step toward retaining more value from its mineral resources, supporting industrialisation, and financing broader economic diversification.