Namdia rallied into value-addition route
Company declares N$300m dividends
Value addition will help the diamond industry's efforts to support local beneficiation, Eiseb said.
Deputy finance minister Maureen Hinda-Mbuende says it is now time for Namibia Desert Diamonds (Namdia) to actively pursue opportunities to engage in value-addition activities.
She made the remarks at a stakeholder engagement during which the company announced a dividend of N$300 million to government - the highest ever paid over by a state-owned enterprise (SOE).
“We as government unwaveringly encourage Namdia to venture into value addition at home in the diamond industry for improved beneficiation, and we fully agree that we [should] produce jewellery locally,” she said at the launch of the company’s annual report for the 2022/2023 financial year.
Namdia board chairperson Bryan Eiseb said value-addition activities would help the diamond industry’s efforts to support local beneficiation.
“We need to intensify our quest for value addition locally and will soon consider selling our diamonds primarily to those clients and companies that have shown a committed interest to Namibia by investing locally in cutting and polishing factories.
“However, we believe that more can be done to support local beneficiation,” he said.
Bigger percentage
Eiseb also called on government to work on an improved contract with diamond giant De Beers to ensure Namibia gains from its diamond resources.
“We’ve proven that it remains the most viable route to market; as a government initiative to sell and market Namibian diamonds as a 50% shareholder in the Namdeb arrangement. As such, we must demand a bigger percentage from that arrangement to sell and market our diamonds. We have certainly developed the required capacity to do so,” he said.
Namdia CEO Alisa Amupolo heralded the 2022/2023 financial year as the most remarkable in the company's history.
She made the remarks at a stakeholder engagement during which the company announced a dividend of N$300 million to government - the highest ever paid over by a state-owned enterprise (SOE).
“We as government unwaveringly encourage Namdia to venture into value addition at home in the diamond industry for improved beneficiation, and we fully agree that we [should] produce jewellery locally,” she said at the launch of the company’s annual report for the 2022/2023 financial year.
Namdia board chairperson Bryan Eiseb said value-addition activities would help the diamond industry’s efforts to support local beneficiation.
“We need to intensify our quest for value addition locally and will soon consider selling our diamonds primarily to those clients and companies that have shown a committed interest to Namibia by investing locally in cutting and polishing factories.
“However, we believe that more can be done to support local beneficiation,” he said.
Bigger percentage
Eiseb also called on government to work on an improved contract with diamond giant De Beers to ensure Namibia gains from its diamond resources.
“We’ve proven that it remains the most viable route to market; as a government initiative to sell and market Namibian diamonds as a 50% shareholder in the Namdeb arrangement. As such, we must demand a bigger percentage from that arrangement to sell and market our diamonds. We have certainly developed the required capacity to do so,” he said.
Namdia CEO Alisa Amupolo heralded the 2022/2023 financial year as the most remarkable in the company's history.
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