Botswana Vows Spending Caution as It Seeks Bigger De Beers Stake

Botswana intends to increase its ownership in De Beers when Anglo American Plc divests its stake in the world’s largest diamond company. The government has not set a target ownership level, with Vice President indicating no agreed “magic number” for the preferred stake. The potential transaction could materially affect De Beers’ ownership structure and Botswana’s exposure to diamond-sector revenues.