"The Minister of Minerals, Energy and Water Resources, Pontashego Kedikilwe says Botswana is compelled to rescue De Beers from its debt because the failure of the world's biggest diamond producer will have devastating consequences on the economy of this country."
Monitor sister publication, Mmegi, first reported last week that the three shareholders of De Beers, one of whom is the government of Botswana, have reportedly agreed in principle to rescue the diamond giant from debt by injecting up to US$1 billion (P6.5 billion) into the company through share placing.
If Botswana decides to take the offer, then it will increase its 15 percent stake depending on how much other shareholders, Anglo American (45 percent) and the Oppenheimer family who owns 40 percent put forward.
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