NDTC diamond sales exceed two million carats

Martin Endjala

Despite global market challenges, the Namibia Diamond Trading Company (NDTC), says it has sorted, valued and marketed about 2.3 million carats of the precious stones during the 2023 financial year.

Brent Eiseb, the chief executive officer of the NDTC made these remarks during a graduation ceremony of the Enterprise Development Programme (EDP) on Tuesday in Windhoek.

“NDTC remains firm in delivering on its mandate of sorting, valuing, and selling the diamonds recovered by NAMDEB Holdings,” said Eiseb.

Eiseb explained that during the rough diamond supply period in 2023, the NDTC sold approximately 77% of its total offering to site holders despite challenging market conditions.

“I am particularly pleased to inform you that 88% of the total sales to NDTC siteholders during 2023 were fully processed in Namibia. This is a significant achievement, considering the industry averaged 38% a few years ago,” he said.

Eiseb indicated that the company has paid N$100 million in dividends to its shareholders, for a total of N$2.8 billion in dividends to the two shareholders NAMDEB and De Beers since its inception.

He added that in 2023, the NDTC paid N$84 million in corporate taxes whilst paying N$1.5 billion in corporate taxes since 2007.

Regarding the Export Levy paid, the CEO said NDTC paid N$197 million in 2023 and N$953 million in Export Levy since the promulgation of the Export Levy Act in 2017.

Meanwhile, N$1.05 million was contributed to the National Training Authority (NTA) Training Levy, bringing the total contribution to date to N$7.1 million.

Eiseb said that the diamond industry is constantly evolving, necessitating the introduction of advanced technologies to enhance transparency in the supply chain.

As a result, he reaffirmed that NDTC remains committed to facilitating beneficiation within the sector. Beneficiation remains a fundamental component in the supply strategy and is thus a key objective of NDTC’s business strategy.

Meanwhile, the NDTC’s board chairperson, Estelle Tjipuka, said the EDP launched in November 2023 is a pioneering initiative that is designed to increase Namibian participation and ownership within the nation’s diamond sector.

She said the tailored programme, through which graduates have undergone intensive training, covering everything from technical skills in diamond processing to the intricacies of global market dynamics and sustainable business practices, will ensure that they are well-prepared to lead with integrity and innovation.

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