Angola makes bold move to acquire De Beers stake amid strategic shift
Endiama sees value in leveraging De Beers’ mining technologies and marketing infrastructure to propel Angola’s diamond industry forward.
READ MORE : http://www.africanews.com/2025/10/28/angola-makes-bold-move-to-acquire-de-beers-stake-amid-strategic-shift
Subscribe on our Dailymotion channel and receive all the latest news from the continent.
Africanews is available in English and French. Website : www.africanews.com Facebook : https://www.facebook.com/africanews.channel/ Twitter : https://twitter.com/africanews
00:00Angola has launched a significant bid to purchase the 85% stake in diamond producer De Beers currently held by Anglo-American PLC.
00:09The Angola state-owned gem company, Endiama, has submitted a proposal and is advancing talks according to its CEO, Jose Manuel Ganga Jr.
00:17Anglo-American valued De Beers at approximately US$4.9 billion after recording impairments amounting to US$3.5 billion over the past two years.
00:31Anglo-American has been seeking to divest its majority share in De Beers for around 17 months.
00:38The bid pits Angola against other interested parties including the government of Botswana, which already owns 50% of De Beers, and retains a right to match external offers.
00:51Botswana's president, Duma Boko, described any acquisition as a matter of economic sovereignty.
00:57Angola's interest signals a shift in strategy.
00:59Previously focused on securing a minority stake and partnering with Botswana, the country now appears intent on taking a controlling position.
Be the first to comment