Angola’s Power Play to Take Over De Beers Shakes Africa’s Diamond Industry

Gems News: Angola Pushes for Control Over De Beers

In a dramatic turn that could rewrite the history of global diamond dominance, Angola has made a formal bid to acquire Anglo American’s full 85 percent stake in De Beers Group. The offer, confirmed by multiple financial sources, marks Angola’s most audacious move yet to reposition itself as the continent’s diamond powerhouse. Just weeks ago, Angola’s mineral resources minister, Diamantino Pedro Azevedo, had indicated an interest in a minority stake through a pan-African partnership with Botswana, Namibia, and South Africa. But the latest move signals a major strategic escalation that positions Angola in direct competition with Botswana, which already owns 15 percent of De Beers and has long considered the company a national asset. This Gems News report delves into the deeper motivations driving Angola’s bid and its implications for Africa’s future in the gem trade.

Angola’s daring move to buy De Beers from Anglo American could reshape Africa’s diamond hierarchy and ignite a fierce rivalry with Botswana.
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Endiama’s Bold Strategy for Diamond Supremacy

Angola’s state-owned diamond company, Endiama E.P., has submitted what it calls “a concrete and well-defined proposal” to Anglo American, underscoring its desire not only to secure ownership but also to gain access to De Beers’ coveted marketing systems, advanced mining technologies, and its global retail brand recognition. Endiama’s CEO, José Manuel Ganga Júnior, stated that joining De Beers would allow Angola to “leap forward into the future of value-added mineral development.” The bid comes after Angola overtook Botswana in 2024 as Africa’s top diamond producer by value, marking the first such shift in two decades. This milestone has emboldened Angola to move from being a producer of rough stones to an integrated leader controlling both production and distribution chains.

A Growing Rivalry with Botswana

While Angola’s ambitions soar, Botswana remains steadfast in its pursuit of full control. President Duma Boko has repeatedly referred to De Beers as “a matter of economic sovereignty,” emphasizing that Africa’s diamond legacy must remain in African hands. As an existing shareholder, Botswana also has the legal right to match any external offer — potentially setting up a fierce bidding war between the two nations. Observers suggest that if negotiations turn hostile, the contest could strain Southern Africa’s long-standing cooperative ties within the diamond industry. Yet, Endiama’s leadership has voiced hope for “an understanding” that might lead to shared continental ownership, a move that could preserve regional unity while enhancing bargaining power against global investors.

The Future of De Beers and African Resource Sovereignty

Anglo American, struggling amid a downturn in diamond prices and rising competition from lab-grown gems, announced plans to divest De Beers by year’s end as part of a strategy to refocus on copper and iron ore. Its sale has attracted multiple suitors, including Qatari funds, former De Beers executives, and Indian industrialist Anil Agarwal. However, Africa’s interest — particularly Angola’s — represents a turning point in global resource politics. The outcome could mark the beginning of a new era where African nations no longer play supporting roles but instead take the lead in defining how their natural wealth is managed, marketed, and monetized.

Angola’s power play is more than a corporate acquisition; it’s a declaration of continental ambition. By seeking full control of De Beers, Angola signals that Africa intends to reclaim ownership of its most valuable treasures and rewrite its role in the world’s luxury markets.

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