BOTSWANA - Botswana's President Mokgweetsi Masisi has announced that it will buy a 24% stake in Belgium gem trader HB Antwerp.
Okavango Diamond Company, the state gem trader, will supply rough diamonds to HB Antwerp for five years with all the value addition to take place in Botswana.
This is perceived as a challenge to De Beers' dominance of Botswana's diamond industry.
Masisi said previously that the country had been receiving less than it "should get" under the existing agreement with De Beers.