De Beers is recognized as a leading global player in the diamond industry, operating in multiple countries including Botswana, South Africa, Namibia, Angola, and Canada. Anglo American is looking to sell its stake due to a downturn in diamond prices and the rising competition from synthetic diamonds.
Initially, in October 2025, Angola aimed for a majority interest in De Beers but later revised its objective to a more modest minority stake. Paulo Tanganha, Angola’s National Director of Mineral Resources, stated at an African mining conference in Cape Town, “Taking a majority stake in luxury commodities is risky as it hinges on market conditions.” He added that a stake of 20% to 30% would be more sustainable for Angola’s economy.
Pursuing this stake could place Angola in competition with Botswana, which currently holds a 15% share in De Beers and has shown interest in obtaining a majority stake as well.
Tanganha noted that there are ongoing confidential discussions among Botswana, Angola, Namibia, and South Africa regarding mutual benefits from ownership in De Beers, although no agreement has been reached yet.
If successful, Angola’s stake would be managed through its state-owned entities, Endiama and Sodiam. While Tanganha did not provide details on the financial aspects of the acquisition, he assured that various funding options are available for the country.
