Angola’s ENDIAMA Seeks Minority Stake in De Beers to Promote Pan-African Ownership, Countering Botswana’s Push for Control
Angola’s state-owned diamond company, ENDIAMA E.P., has submitted a fully funded offer to acquire a strategic minority stake in De Beers, signaling a major shift in African diamond industry dynamics.
The Angolan government clarified that the bid is not aimed at majority control. Instead, it seeks to foster a pan-African ownership model that would support De Beers’ long-term independence and global competitiveness.
Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo, explained:
“Our proposal is built around the idea of partnership—bringing together Angola, Botswana, Namibia, and South Africa as meaningful stakeholders.
The intention is to avoid dominance by any single party, allowing De Beers to flourish as a truly international commercial entity.”
This position stands in contrast to Botswana, which currently holds a 15% stake in De Beers and has declared its intention to pursue a controlling share in the company.
Relations between Angola and De Beers have strengthened since 2022, following the signing of two diamond exploration agreements.
That collaboration produced a breakthrough in 2025, with the discovery of a new kimberlite field—Angola’s first major find in more than three decades.
By positioning itself as a unifying partner, Angola aims to reshape African diamond cooperation, offering an alternative to Botswana’s bid for dominance.
Botswana, however, emphasizes its decades-long partnership with De Beers. Through Debswana, their joint venture, the country has played a central role in the success of some of the world’s richest diamond mines, including the iconic Jwaneng mine.
President Duma Boko has made it clear that Botswana seeks a controlling stake to redefine its influence in the global diamond industry.
He added that potential funders—including Oman’s sovereign wealth fund—are prepared to back Botswana’s bid.
