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Angola has officially expressed interest in acquiring a minority stake in De Beers, signaling its intent to play a more active role in shaping the future of one of the world’s leading diamond companies. This announcement comes amid Botswana’s push to expand its own shareholding to a controlling majority, intensifying regional discussions about equitable ownership and influence over Southern Africa’s valuable diamond resources.
The bid, submitted by Angola’s state-owned diamond company, Endiama, is fully funded and focused on securing a strategic—not controlling—interest. According to Angola’s Ministry of Mineral Resources, Petroleum and Gas, the move aims to ensure that major regional producers maintain a collective voice in De Beers’ governance structure.
Currently, Anglo American—listed in London—holds 85% of De Beers but has been seeking to divest as part of a broader corporate restructuring effort. That process has slowed due to weak demand in the natural diamond market, exacerbated by the rise of lab-grown alternatives. In early 2025, Anglo American reduced De Beers’ valuation to around $4.9 billion. Botswana, which holds the remaining 15%, remains at the center of ongoing ownership negotiations.
Angolan Mineral Resources Minister Diamantino Pedro Azevedo emphasized that the country’s proposal supports regional unity among key diamond-producing nations, including Botswana, Namibia, South Africa, and Angola. He stressed the importance of a balanced ownership model that avoids concentration of power in any single country’s hands.
Angola’s recent ascent to the top position as Africa’s leading diamond producer by value—overtaking Botswana for the first time in 20 years—underscores the changing dynamics within the continent’s diamond industry. This shift is redefining the conversation around sovereignty, resource control, and fair distribution of economic benefits.
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Endiama has also signaled a willingness to collaborate with both state and private entities to ensure De Beers remains independent and competitive on a global scale. By positioning its stake as a gesture of regional partnership rather than dominance, Angola is advocating for a cooperative approach to managing a resource that has long shaped Southern Africa’s economic and political landscape.
