De Beers, once a dominant force in the diamond industry, is under severe pressure due to declining demand for natural diamonds and increasing competition from lab-grown alternatives.

Aliko Dangote is wealthiest man in Africa, boasting a net worth of $10.7 billion, according to Forbes, while Bloomberg Billionaires Index estimates his wealth at $27.1 billion.

South Africa-active Petra Diamonds (Petra) has entered into an agreement to divest its entire shareholding in Tanzania’s ...