Botswana's New President Eyes Swift Diamond Sales Deal

Botswana's President Duma Boko aims to finalize a diamond sales agreement with De Beers shortly. Most issues have been resolved, with a signature expected imminently. Botswana, owning a 15% stake, seeks to increase its share as Anglo American plans to divest De Beers.

Botswana is on the brink of sealing a significant diamond sales deal, as President Duma Boko announced plans to wrap up long-standing negotiations with De Beers. Speaking at Davos, Boko emphasized that the two parties are in agreement on most matters, requiring only final adjustments.

The President expressed optimism that the deal might be signed as soon as seen. The pact, initially agreed upon with De Beers in 2023, remained unsigned under Boko's predecessor, Mokgweetsi Masisi.

With Boko's surprising electoral triumph, Botswana aims to enhance its diamond industry share amid Anglo American's plans to divest De Beers, eyeing broader regional and economic growth.

(With inputs from agencies.)