Botswana and Angola are stepping up cooperation to protect the value of natural diamonds as producers face growing competition from cheaper laboratory-grown stones and weaker global demand.
The two countries, which together account for almost 30 percent of global rough diamond production by volume, have agreed to deepen collaboration in the industry, potentially giving African producers greater influence over how the global diamond market evolves.
The agreement was reached during a meeting between Botswana President Duma Boko and Angolan President João Lourenço in Luanda on 8 September. The discussions come as Botswana seeks to protect diamond revenues, expand market access and reduce its exposure to changing consumer preferences.
For producers, the threat is increasingly commercial rather than geological. Laboratory-grown diamonds can be manufactured within weeks and sold at substantially lower prices than natural stones, forcing the traditional industry to rethink how it markets and positions its product.
President Boko said Botswana was developing a ‘robust marketing campaign’ to strengthen the position of diamonds from producing countries, while Angola has backed closer cooperation to enhance the value of natural stones and protect the jobs and government revenues they generate.
The partnership also intersects with the future of De Beers, where Botswana holds a 15 percent stake and Angola has expressed interest in acquiring a shareholding. Anglo American put De Beers on the market in 2024, with the sale process advancing.
Beyond marketing, the countries are looking to strengthen producer influence over the diamond value chain and retain more economic value in Africa. For Botswana, where diamonds remain central to exports and government revenue, preserving the premium attached to natural stones has become increasingly important.