Botswana's De Beers shares result in a loss of P3 billion
The latest financial results from Anglo American reveal that Botswana's shares in De Beers have depreciated by US$ 240 million, approximately P3.3 billion. In its annual financial report, Anglo American recorded a $1.6 billion reduction in De Beers' book value, primarily attributed to goodwill (brand value). While Anglo American, holding 85% of De Beers, experienced the most substantial impact, Botswana, with the remaining 15% ownership, also felt the effects.
Botswana's stake in De Beers is currently valued at P15.738 billion ($1.14 billion), down from P19.05 billion ($1.38 billion) previously. The overall value of De Beers has decreased to $7.6 billion from $9.2 billion.