Botswana is engaging the United Arab Emirates and Oman in discussions aimed at securing financial and strategic backing for a potential expansion of its stake in De Beers, signaling a growing alignment between African resource states and Gulf sovereign investors.

President Duma Boko confirmed the talks as Botswana positions itself to play a larger role in the possible restructuring of one of the world’s most influential diamond companies. The move comes as global mining giant Anglo American accelerates plans to divest its 85% holding in De Beers as part of a portfolio overhaul.

Strategic asset at the center of global reshuffle

De Beers, long considered the cornerstone of the modern diamond trade, is currently undergoing strategic repositioning as Anglo American shifts focus toward copper and iron ore, commodities tied to the global energy transition.

For Botswana, which already holds a 15% stake, the potential transaction represents more than a financial play. It is a bid for deeper influence over pricing, distribution, and global marketing of diamonds, an industry that underpins nearly 80% of the country’s export earnings.

Resource strategy meets sovereign capital

The outreach to Gulf states reflects a broader trend of Middle Eastern capital expanding into African mining and critical minerals. Both the UAE and Oman have been increasingly active through sovereign wealth funds and state-backed investment vehicles seeking long-term exposure to hard assets.

Analysts view the alignment as part of a new resource diplomacy model, where African producers seek capital partners that offer both funding and geopolitical balance in strategic commodity sectors.

Botswana’s economic stakes are high

Diamonds remain central to Botswana’s economic structure, contributing roughly a quarter of GDP and anchoring decades of steady growth since independence. Greater control over De Beers would give Gaborone enhanced leverage in a market still heavily influenced by global supply chains and luxury demand cycles.

Founded in 1888, De Beers remains one of the most powerful players in the diamond ecosystem, operating mines across Botswana, Namibia, Canada, and South Africa, and producing about one-third of global rough diamonds by value.

Anglo American’s strategic exit

The planned divestment follows Anglo American’s rejection of a $49 billion takeover attempt from BHP Group, after which the company accelerated efforts to streamline its portfolio.

As the restructuring unfolds, Botswana’s engagement with Gulf partners could determine whether it expands its influence in one of the world’s most strategically sensitive commodity markets, or remains a minority voice in a reshaped global diamond order.