Angola seeks minority stake in De Beers
Mbongeni Mguni | Wednesday September 24, 2025 11:40
A statement seen by Mmegi indicates that Angola's state-owned diamond miner, Endiama, has submitted a 'fully financed offer to acquire a strategic minority stake in De Beers'.
Angola believes De Beers’ future depends on remaining a private-sector-led, global company,” said Diamantino Pedro Azevedo , Minister of Mineral Resources, Petroleum and Gas. “Our bid is designed to foster a partnership in which Botswana, Namibia, South Africa and Angola all participate meaningfully—ensuring that no single party dominates and that the company can grow as a truly international commercial entity.”
Mmegi has verified that the statement is indeed from the Angolan ministry.
The news comes a day after President Duma Boko announced that Botswana would be seeking a controlling stake in De Beers, a move that technically means shareholding above 50%.
Botswana already holds 15% in De Beers, the 137-year old diamond giant that has powered the country's economy and the global diamond industry for decades.
Anglo American, which is divesting its 85% stake in De Beers, has said it is in the process of finalising a short-list of bidders.