Botswana and Angola have held high-level talks in Gaborone as both nations vie for control of De Beers, the Anglo American diamond unit. Botswana, which holds a 15% stake in De Beers and produces 70% of its annual rough diamonds, views the company as a strategic national asset despite falling global prices. Angola, meanwhile, initially pursued a minority stake in the unit before seeking to have majority control, setting the stage for a potential regional rivalry. During discussions, the ministers focused on broader cooperation in the diamond sector as well as energy and logistics, emphasizing the need to revitalize the industry. While neither side addressed their competing bids publicly, the meeting highlights Southern Africa’s ambition to maximize the value of its diamond wealth.
Reuters
