Africa-Press – Botswana. President Duma Boko has confirmed that Botswana aims to conclude negotiations by the end of October to secure a controlling stake in De Beers. The move would raise the country’s current 15% holding to more than 50%, a step the president described as critical to “economic sovereignty.”
PUSH FOR CONTROL
Speaking to Bloomberg TV in New York, Boko said Botswana wants “effective control” of De Beers, signalling a shift from partnership to ownership in the global diamond industry. “We want our voice to be heard. It’s a matter of economic sovereignty for Botswana,” he said.
FUNDING PARTNERSHIPS
Boko revealed that investors, including Oman’s sovereign wealth fund, have been lined up to support the bid. “We have targeted funders… we also have others who are willing and ready to come on board with us. So we are more than ready for the transaction to be concluded by the end of October,” he added.
COMPETING INTERESTS
The president’s announcement comes as Anglo American, which owns 85% of De Beers, pursues a divestment process. According to international reports, at least nine potential buyers have expressed firm interest.
ANGLO’S POSITION
Anglo CEO Duncan Wanblad confirmed that discussions with Botswana are part of the second phase of the sale. “We are now through the first round of the divestment process and we are into the second round, which includes engagement with the government of Botswana,” Wanblad said at a recent press event.
The sale process leaves Botswana’s ambitions competing with international bidders, raising questions about whether the government can secure the controlling stake it seeks within its deadline.
For More News And Analysis About Botswana Follow Africa-Press
