Good morning, let’s get into it!
As global diamond markets face a "perfect storm" of oversupply and synthetic competition, Gaborone is leading a strategic counter-offensive. Botswana, Angola, and Namibia are no longer content with just being the world’s mines; they are positioning themselves to own the global marketing engine itself.
The Multi-National Bid for De Beers
The headline story of 2026 is the race for De Beers. With Anglo American divesting its 85% stake, a historic shift is underway. President Duma Boko recently confirmed that Botswana is moving to acquire a majority stake, but they aren't going it alone.
Regional Synergy: Angola and Namibia have both expressed firm interest in a joint equity partnership. The vision is a Pan-African diamond consortium that would allow these nations to move from "resource providers" to "global owners."
The Goal: By owning the company that defines market prices and standards, the region gains an "iron grip" on its most valuable export, ensuring that value stays in Southern Africa.
The G7 Traceability Battle
A major catalyst for this unity is the pushback against the G7’s new "conflict diamond" traceability rules.
The Conflict: The G7 requires stones to be routed through Antwerp for certification to block Russian diamonds.
The Response: In a rare display of regional solidarity, the trio sent a joint protest, labeling the rules "patronizing" and economically damaging. They are pushing for Gaborone to be the global certification hub, arguing that African producers are more than capable of verifying their own ethical supply chains.
This partnership arrives at a critical moment. Botswana is currently managing a 12 million-carat stockpile as demand softened in late 2025.
Budget Pressure: With diamond revenues projected to drop by nearly 60%, the government is under pressure to diversify.
Strategic Reset: This regional alliance isn't just about diamonds; it's a hedge. By aligning with Angola (which is ramping up its Luele mine to 8.6 million carats by year-end), the region can better manage global supply and stabilize prices.
The Bottom Line: We are witnessing the birth of a "Diamond OPEC." For the Botswana Stock Exchange (BSE) and local investors, the success of this alliance will dictate the country’s fiscal health for the next decade.
Sources
The Namibian (Jan 14, 2026): "De Beers confirms bids from Botswana, Angola and Namibia."
Mmegi Online (Dec 2025): Reports on the IMF's warning to Botswana regarding the financial exposure of the acquisition.
IDEX Online (Nov 2025): "Botswana and Angola in Race for De Beers."
Government of Botswana DailyNews (Nov 2025): Statements regarding the P1.4 billion investment in mining chemicals as part of the broader beneficiation strategy.
