Duma Boko Pitches Bigger De Beers Stake as a Technology Bet

Duma Boko is presenting Botswana’s proposed increase in its De Beers shareholding as more than a move to gain influence in the diamond business. In his State of the Nation Address, the president argued that raising the country’s stake from 15% to 30% could also open a path into advanced technology, particularly through synthetic diamonds. Boko said the larger holding would make Botswana De Beers’ biggest single shareholder and give it greater influence over the company’s long-term direction. “Our investment in De Beers is not just an investment in natural diamonds; it is an investment in technology,” he said, according to the address. A key part of the pitch is Element Six, the De Beers-owned business that develops synthetic diamond technology for industrial and other advanced uses. Boko said demand for high-tech synthetic diamonds could grow as investment expands in artificial intelligence infrastructure, superintelligence systems and large data centres. He also said the US government had approached Element Six about taking part in technology development. Boko cited a proposed US$600 million joint facility in Georgia announced by President Donald Trump. He said discussions with US Commerce Secretary Howard Lutnick had raised the possibility of Element Six becoming central to a wider Botswana-US technology partnership. Botswana is not expected to pursue the transaction alone. Boko said Angola and Namibia would participate alongside it, describing the proposal as a chance for major diamond-producing countries in the region to take part together in De Beers ownership. The deal has not yet been concluded. Boko’s remarks set out the government’s case for pursuing it: deeper influence in the diamond company, alongside potential exposure to synthetic-diamond applications linked to emerging computing industries. The president presented that technology opportunity as a significant part of the investment’s appeal.