Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News ((hot)) -

The government of Botswana has taken steps to increase its share of the revenue, but more needs to be done to ensure that the country benefits from its rich diamond deposits. The government must also prioritize the needs of local communities and ensure that the industry is operated in a responsible and sustainable manner.

Is Botswana Getting a Raw Deal From De Beers Diamonds? For over half a century, the partnership between the Republic of Botswana and De Beers Group has been hailed as the ultimate blueprint for resource-driven development. Unlike many of its resource-rich neighbors, Botswana successfully bypassed the "resource curse," transforming itself from one of the world’s poorest nations at independence in 1966 into a thriving, upper-middle-income economy.

To understand whether Botswana is getting a raw deal, one must look at the mechanics of the current arrangement. The relationship operates primarily through , a 50/50 joint venture between the government of Botswana and De Beers. The government of Botswana has taken steps to

De Beers argues that the partnership is symbiotic. They claim that without their global branding (the "Forevermark" and "A Diamond is Forever" campaigns), Botswana’s diamonds would be commoditized and lose their premium value. They also note that they have already ceded ground, allowing the ODC to sell 25% of production independently.

Historically, Botswana's direct ownership in De Beers was just 15%, while mining conglomerate Anglo American held an 85% majority. Meanwhile, Botswana supplied approximately 70% of De Beers’ annual rough diamond production. This disparity led to widespread frustration. Proponents of a new deal pointed out several major sticking points: For over half a century, the partnership between

President Duma Boko has passionately argued for a majority stake, citing the profound injustice of a system where "De Beers gets 70% of its diamonds from Botswana, and we only own 15% of it". For him, buying the company is an act of economic liberation, a chance to seize control of the entire value chain from mine to market.

As of early 2026, President Duma Boko has prioritized this transformation, aiming to boost local jobs, attract investment, and enhance the nation's economic independence, according to a Sunday Standard BW Facebook post and The Patriot on Sunday . Why Concerns Persist: The "Raw Deal" Argument The relationship operates primarily through , a 50/50

Botswana and De Beers have a long-running, high-stakes partnership: Debswana, the 50:50 joint venture, has powered much of Botswana’s post‑independence prosperity by mining and marketing the country’s gem‑quality diamonds. Recently that relationship and the structure of diamond sales have come under scrutiny as market shocks (lab‑grown diamonds, tariffs, weaker demand) and renegotiated sales arrangements change who captures value.

Following years of arguing they received a raw deal, Botswana is leveraging a landmark 2025 sales agreement to pursue majority control of De Beers amidst Anglo American's restructuring. As of April 2026, the government is seeking to acquire an 85% stake to transition from a junior partner to controlling owner of the diamond giant. For more details, visit Bloomberg .