20 Jul 2026

The Minister for State President, Defence and Security, Mr Moeti Mohwasa has told Parliament that the government is a 15 per cent shareholder in De Beers and related group companies and also a 50 per cent shareholder in Debswana. Responding to a question in Parliament on Friday, Mr Mohwasa said in terms of existing agreements and also under Botswana law, the government has the rights in relation to any change of control relating to its shareholding and also pre-emptive rights in respect of any disposal by Anglo-American of its 85 per cent stake in De Beers. Mr Mohwasa highlighted that Anglo-American has commenced a sale process in relation to its 85 per cent stake, adding that has triggered Botswana’s legal entitlements. In pursuit of those entitlements, which included the possibility of the acquisition of a controlling stake, subject to regulatory, antitrust and financial considerations, he said the government has decided to participate in the sale and acquisition process. He said the government was aware that there were other commercial bidders and that both the Republic of Angola and Namibia were interested in acquiring a stake. “The government is engaging with all of these potential bidders with a view to ensuring that Botswana’s ultimate increased stake is at an optimal level in the best interest of the country and its people,” he said. In order to ensure the best possible transactional outcome, Mr Mohwasa stated that the government has commenced a detailed legal and financial due diligence exercise, working with Batswana and international advisors, noting that the government has also entered into detailed negotiations with Anglo-American. He said it is expected that the outcome of this due diligence would determine the value of De Beers and the attendant pricing considerations, which in turn would inform and determine final negotiations with Anglo-American and engagements with potential sovereign and private sector partners. The minister revealed that the transaction was ongoing and the government would naturally continue to inform all stakeholders as it progressed to conclusion. He was responding to a question from the MP for Maun North who had asked him to update Parliament on the government acquisition of a controlling stake in De Beers. ENDS