Theme: botsuana

Botswana's President Duma Boko announced in Parliament on Monday that the country will double its stake in De Beers to 30% under a proposed deal by a consortium of investors to buy Anglo American's shares in the company.
The move would make Botswana the largest single shareholder in De Beers, the world's leading diamond company, and Boko endorsed the Global Diamond Consortium as the proposed buyer. Anglo American put its 85% stake in De Beers up for sale in 2024 as part of a restructuring focused on minerals expected to boom from the transition to green energy and a downturn in the diamond market.
The consortium is led by former De Beers CEO Gareth Penny and was selected as the preferred bidder, according to Reuters in a text republished by CNBC Africa. Boko said Namibia and Angola would also be involved in the deal, though he gave no details.