Namib Desert Diamonds (Namdia) on Monday declared a dividend of N.dollars 150 million to the government for the financial year 2021/2022, an increase of N.dollars 110 million compared to the N.dollars 40 million declared in the previous financial year.
Speaking during the handover ceremony here, Namdia’s Chief Executive Officer, Alisa Amupulo, said the company during the 2021/2022 financial year, made a profit sale after tax amounting to N.dollars 144.7 million as compared to N.dollars 13.3 million made in the previous financial year.
She said Namdia conducted 10 sales during the 2021/2022 financial year, noting that the company’s purchase volumes totalled 222 978 carats, an increase of 53.8 per cent compared to the previous year.
She further indicated that the sales revenue increased by 78.7 per cent, adding that the buying average carat price was US.dollars 536.55 compared to the selling average carat price of US.dollars 574.21.
“Namdia has once again proven its resilience in the face of adversity, whilst many industries still battle the after effects of the COVID-19 pandemic, we were able to steadily navigate our way through the storm and deliver on our mandate,” she noted.
Amupolo noted that the company has 36 new clients selected for the 2022/2023 to 2025/2026 financial years, adding that Namdia is in a very sound financial position with cash reserves amounting to N.dollars 395 million at year end, noting that the reserves are maintained for future expansion of activities and required collateral for banking facilities in the absence of a government guarantee.
She further indicated that a total of N.dollars 244 840 was invested in staff training and development, adding that since its inception in 2016, the institution has invested over N.dollars 30 million on various corporate social responsibility initiatives.
Accepting the dividend, Deputy Minister of Finance, Maureen Hinda-Mbuende said Namdia’s N.dollars 150 million dividend to the shareholder sets a sterling example for other commercial public enterprises.
“The diamond industry is the front-runner of our economy and it is once more proving a catalyst for economic and social advancement,” she noted.
Source: The Namibian Press Agency
