Angola has confirmed its interest in acquiring a minority stake in De Beers, positioning itself within ongoing negotiations over the future of one of the world’s largest diamond enterprises. The move follows Botswana’s declared intention to increase its holding to a majority share, sparking discussions over the appropriate balance of ownership across Southern Africa’s resource landscape.
The proposal was submitted by Angola’s state-owned diamond company, Endiama, which emphasised that the bid is fully financed and intended to secure a “strategic” holding rather than outright control. According to the Ministry of Mineral Resources, Petroleum and Gas, Angola views its approach as a means of ensuring that regional stakeholders retain a collective voice in the governance of De Beers.
London-listed Anglo American, which owns 85% of De Beers, has been pursuing divestment as part of a restructuring process initiated over a year ago. Although the plan has faced delays due to a prolonged downturn in the natural diamond market—driven partly by the rise of lab-grown alternatives—Anglo American wrote down De Beers’ value to approximately $4.9 billion in February this year. Botswana, which already holds a 15% share, remains a central actor in negotiations regarding future ownership.
Speaking on behalf of Angola, Minister of Mineral Resources Diamantino Pedro Azevedo stated that the bid aims to strengthen regional cooperation across major producing nations. He underscored the importance of a balanced arrangement that includes Botswana, Namibia, South Africa and Angola, in order to avoid dominance by any single party.
Angola recently overtook Botswana as Africa’s leading diamond producer by value for the first time in two decades, according to data from the Kimberley Process Certification Scheme. This development reflects the shifting dynamics within the continent’s diamond sector, with competition increasingly framed by questions of sovereignty, resource control, and equitable distribution of benefits.
Endiama has further indicated that it is open to partnerships with both governments and private investors to ensure that De Beers remains an independent and globally competitive enterprise. By framing its involvement in terms of collaboration rather than dominance, Angola is positioning itself as a stakeholder seeking to reinforce regional solidarity in the governance of a resource that has long shaped Southern Africa’s political economy.
