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.
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.
