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Botswana : budget allocates $65M for HB Antwerp stake

Botswana plans to invest 890 million pula ($65 million) in acquiring 24% of diamond firm HB Antwerp. This marks progress on President Mokgweetsi Masisi’s initiative announced in March. HB is poised to purchase top diamonds from Botswana’s Okavango Diamond Company. This move aims to replicate HB’s previous agreement with Lucara Diamond Corp. Despite recent disputes within HB, Botswana’s government is in the final stages of due diligence for the deal.

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