The high-level talks between Botswana’s Minister of Mines, Lefoko Moagi, and Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo, were part of broader discussions on collaboration in the diamond, energy, and logistics sectors. The meeting comes as global diamond prices continue to fall, placing pressure on economies that rely heavily on the precious stone.

Botswana, which holds a 15% stake in De Beers and supplies around 70% of its rough diamonds, considers the company a strategic national asset. Angola, meanwhile, has now moved beyond its earlier interest in a minority stake, tabling a bid for majority ownership, a move that could set up a competitive contest between the two Southern African producers.

Political Economist Kevin Tutani said a potential takeover by the two governments would have major implications for the region. “If Botswana and Angola manage to gain control of De Beers, it would embolden Southern African governments to take greater ownership of their mineral wealth,” he explained. “Diamonds account for around 90% of Botswana’s exports and nearly 30% of its gross domestic product, so it’s understandable that Gaborone would want more control.”

However, Tutani cautioned that any attempt to increase ownership must be carried out responsibly. “This determination to have greater control should be within reasonable means, not through abrupt or aggressive measures that could damage investor confidence,” he warned.

Angola’s Ministry of Mines confirmed that both countries had expressed interest in acquiring shares in De Beers but did not provide further details.

Analysts believe that whether the two countries pursue collaboration or competition, the outcome will reshape Africa’s influence in the global diamond trade. “This could mark a new era of assertiveness in Africa’s resource economy,” Tutani said, “with Botswana and Angola taking the lead in redefining how the continent manages its mineral wealth.”

–ChannelAfrica–