Botswana's Government Puts Diamond Trader Deal on Back Burner
Botswana's deal to acquire a stake in Belgian gem trader HB Antwerp — proposed by the previous government but never completed — appears to be in limbo.
The plan for Botswana to purchase a 24% interest in HB Antwerp – first announced by former President Mokgweetsi Masisi in March 2023 – was seen as a model to challenge the southern African country's decades-long partnership with De Beers. If executed, the deal would see state trader Okavango Diamond Co. receive polished rather than rough prices for stones for a portion of its sales.
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