Botswana & Angola In Talks to Acquire De Beers
In a historic move, Africa’s top diamond-producing nations Botswana and Angola are reportedly in discussions to jointly acquire De Beers, the world’s largest diamond mining company.
The two nations say the partnership is strategic, aimed at gaining greater control over Africa’s diamond wealth and maximizing the benefits from their own resources.
For decades, De Beers has dominated the continent’s diamond industry, controlling or owning nearly 90% of Africa’s diamond mines and generating hundreds of billions of dollars especially from Botswana and South Africa.
If successful, this acquisition would mark one of the biggest shifts in the global diamond industry, placing ownership directly into African hands.