Namibia has failed in its bid to acquire a stake in global diamond producer De Beers after Anglo American selected the Global Diamond Consortium as its preferred bidder for the company’s sale.
The outcome was announced by Botswana’s Minister in the Presidency, Moeti Mohwasa, during a parliamentary briefing on Friday. He said Anglo American had completed a competitive sale process involving three shortlisted bidders.
“Anglo American ran a competitive process involving three shortlisted bidders and has since identified a preferred bidder, the Global Diamond Consortium,” Mohwasa said.
While welcoming the consortium’s proposal to include Angola and Namibia, Mohwasa did not disclose the identities of its members.
He said the priority was to secure an experienced operator supported by a stable long-term ownership structure and a credible, well-funded turnaround plan for De Beers.
Namibia had pursued the acquisition alongside Angola and Botswana in a regional bid aimed at increasing African ownership of the world’s largest diamond producer. Botswana already owns a 15% stake in the De Beers Group.
As part of the proposal, the Namibian government had considered investing up to N$3 billion to acquire an equity stake in De Beers and deepen its participation across the global diamond value chain.
The bid comes as Namibia’s diamond industry faces mounting pressure from weak global diamond prices, geopolitical uncertainty and growing competition from lab-grown diamonds, factors that have significantly reduced the sector’s contribution to the economy.
Diamond royalties declined to N$644 million in 2025 as the downturn continued to weigh on government revenue.
Namibia’s diamond industry currently comprises 12 cutting and polishing companies employing about 1,100 Namibians, with thousands more jobs supported throughout the broader diamond value chain.
Anglo American is selling its 85% stake in De Beers as part of a broader restructuring strategy announced last year.
Despite missing out on the acquisition, Namibia remains one of De Beers’ most strategic partners.
The Namibian government and De Beers each own a 50% stake in Namdeb Holdings (Proprietary) Limited, the parent company of Namdeb Mining and Debmarine Namibia.
