De Beers CEO Backs Botswana’s Push for Increased Ownership in Diamond Giant

De Beers CEO Backs Botswana’s Push for Increased Ownership in Diamond Giant. De Beers Group chief executive Al Cook has welcomed Botswana’s ambition to increase its shareholding in the diamond company, expressing support for the country’s continued involvement in the business as it undergoes an ownership transition.

In a statement following Botswana President Duma Boko’s State of the Nation Address (SONA), Cook acknowledged the country’s position as an important shareholder and its contribution to De Beers over the past 25 years.

Botswana currently holds a 15% stake in De Beers, acquired 25 years ago. The country’s ambition to increase its ownership comes as Anglo American leads an ongoing process to sell the diamond business.

Cook said De Beers welcomed shareholders with substantial experience in the diamond industry and ambitious plans for the company’s future. He also described Botswana as an integral part of the business, highlighting the longstanding relationship between the two.

The De Beers chief executive further pointed to the potential benefits of increased Botswana ownership for consumer confidence, particularly as diamond buyers become more attentive to the origins and responsible sourcing of the stones they purchase.

According to Cook, stronger Botswana participation in the ownership of the diamond group could reinforce confidence in the provenance of its diamonds.

However, the ownership discussions remain ongoing, with no final transaction details announced.

Cook indicated that formal announcements concerning the sale process would be made by Anglo American at the appropriate time, as discussions and agreements continue.

Botswana’s interest in increasing its stake comes at a significant point for the diamond company, which is navigating a change in ownership under its current shareholder, Anglo American.

The potential increase in Botswana’s shareholding would build on its existing investment in De Beers, although the size and structure of any proposed transaction have not yet been confirmed.