…as Africa’s largest diamond producer
BONGANI MALUNGA
Angola has overtaken Botswana to become Africa’s leading diamond producer by value, with its 2024 output surpassing Botswana’s production levels, the Kimberly Process (KP) has revealed in its latest report.
For the first time since diamond production statistics were introduced in 2004, Botswana has fallen behind in terms of production value.
Contrasting levels
In 2024, Botswana’s diamond production plunged to 18.13 million carats valued at US$1.36 billion, a year-on-year decline of 27.8% in volume and 58.6% in value. In contrast, Angola recorded a sharp upswing, producing 14.03 million carats worth US$1.41 billion, representing a 43.8% surge in output.
Power shift
For decades, Botswana has led global diamond production through Debswana, its joint venture with De Beers, contributing significantly to the country’s economy. However, Angola’s recent surge in diamond output, driven by new mining projects, improved infrastructure and favourable investment policies, has shifted the balance.
Prospective region
In October last year De Beers Chief Executive Officer Al Cook, while speaking at the Angola International Diamond Conference, revealed that De Beers had identified eight high potential kimberlite targets as a result of the Group’s airborne magnetic surveying work. He hailed Angola as “the world’s most prospective region for new diamond deposits.”
Best place
“We believe that Angola is the best place on earth to look for new diamonds and we will be drilling the prospects in 2025. Wish us luck,” Cook stated at the event last year. Angola’s state-owned diamond firm Endiama has set a revenue target of over US$2 billion for 2025.
Subdued demand
De Beers is grappling with subdued demand, as Botswana’s diamond output fell 26% year-on-year in the first half of 2025, reaching 9.7 million carats. The sharp decline highlights ongoing challenges in the global diamond market, putting pressure on producers to adapt to shifting consumer trends and market conditions. At its peak in 2022, Botswana’s diamond production was valued at US$4.7 billion, more than double Angola’s US$1.96 billion output, underscoring Botswana’s dominance in the sector at the time.