The government of Botswana has declared its intention to acquire a controlling stake in De Beers, the diamond producer in which it currently holds fifteen per cent ownership.

This ambition coincides with parent company Anglo American’s plan to divest its eighty‑five per cent shareholding in De Beers and explore either a sale or an initial public offering.

Mining Minister Bogolo Kenewendo stated that President Duma Boko is determined to secure full control over De Beers as a strategic national asset and its entire value chain, including marketing operations.

She added that any sale without Botswana’s agreement would be difficult to achieve.

Botswana also holds fifty per cent in Debswana, the joint venture with De Beers that supplies approximately seventy per cent of De Beers’ rough diamond output.

De Beers has faced a thirty‑percent decline in revenue in early twenty twenty‑five, and is carrying roughly two billion dollars of unsold diamond inventory.

The sector is under pressure from falling global demand and growing competition from lab‑grown stones.

Bids for the purchase of De Beers’ eighty‑five per cent stake are expected in early August.

Analysts have raised doubts about Botswana’s capacity to finance a full takeover, amid forecasts of a seven point five per cent budget deficit by two thousand twenty‑six and recent borrowing of three hundred million dollars from an international development bank.

Some observers have described Botswana’s increasingly assertive approach as a reflection of dissatisfaction with current diamond sales performance and governance.

Domestic debate has emerged, with critics warning that further investment in a shrinking diamond market may carry financial risks.

Anglo American continues to engage regularly with the Botswana government throughout its sale or listing process, with the country remaining central to any outcome due to its critical role as a diamond supplier.