Namibia is set to join Botswana and Angola in a proposed acquisition of De Beers Group, as the three diamond-producing countries seek to increase their ownership interests in the global diamond company.
Botswana President Duma Boko confirmed Namibia and Angola’s participation in the proposed transaction during his State of the Nation Address on Monday, 9 November 2026, but did not disclose their respective shareholding allocations or financial commitments.
“In this deal, Botswana will not stand alone. It will not walk alone. We have our neighbours and friends. The Republic of Angola and the Republic of Namibia are taking part in this transaction alongside us,” Boko said.
The proposed acquisition follows Anglo American’s decision to divest its 85% controlling stake in De Beers, with Botswana seeking to increase its existing 15% shareholding to 30%.
Boko said his government had selected the Global Diamond Consortium (GDC), led by former De Beers Chief Executive Gareth Penny, as its preferred bidder for Anglo American’s stake.
“Botswana’s shareholding in De Beers will double from the current 15%. Botswana will become the single largest shareholder in De Beers,” he said.
For Namibia, participation in the proposed acquisition could expand the government’s ownership interests in the diamond industry beyond its existing partnership with De Beers through Namdeb Holdings, which is jointly owned by the Namibian government and De Beers.
The transaction could also give Namibia a direct ownership interest in De Beers at group level, although the size of the proposed stake and the financial implications for the government have not been disclosed.
Boko said Botswana’s planned investment would also create opportunities beyond conventional diamond mining, particularly through De Beers’ synthetic diamond subsidiary, Element Six.
He revealed that Element Six would participate in a proposed US$600 million synthetic diamond manufacturing facility in the United States, targeting industrial applications in artificial intelligence, high-performance computing and data centre technologies.
The proposed investment forms part of Botswana’s efforts to diversify its diamond-related economic activities beyond natural diamond production.
The acquisition has not yet been finalised, with the purchase price, financing arrangements and proposed ownership allocations for Namibia and Angola still to be disclosed.
Further details on Namibia’s financial contribution and the structure of its participation in the transaction have also not been announced.
