Investing.com -- Botswana's newly inaugurated President, Duma Boko, has highlighted the importance of finalizing a sales agreement with diamond industry leader De Beers. The president stated his intentions on Thursday, with hopes of concluding the deal as early as Friday, Reuters reported.

This agreement has been delayed for some time, and President Boko has made it a priority in his early days in office. The president has emphasized the necessity to diversify the Southern African nation's economy, a goal that this deal could potentially help achieve.

The De Beers Group, a unit of Anglo American (JO: AGLJ ), is a significant player in the diamond industry. The multinational corporation owns 85% of De Beers, while the Government of Botswana retains a 15% stake. This arrangement underscores the importance of the pending sales pact for both the diamond producer and the African nation.

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