State-owned diamond marketing and sales agency, Namib Desert Diamonds, (Namdia), produced rough diamonds worth N.dollars 16 billion in 2021.
This was said by Minister of Mines and Energy, Tom Alweendo, during the official inauguration of the Hage Geingob boardroom at Namdia’s headquarters in the capital on Monday.
Alweendo said diamond production accounts for approximately 10 per cent of the Gross Domestic Product (GDP), 40 per cent of export revenue and seven per cent of annual government revenue.
“The commitment and dedication of Namdia play an integral role in generating revenue for the country and contributing positively to the nation’s economy. Namdia is one of the few state-owned companies that declares dividends to its shareholders,” he said.
He indicated that through value addition, Namibia demonstrates that it is well-positioned to become a world class and sought after player in the industry beyond the supply of rough diamonds.
Inaugurating the boardroom which was named after him, President Hage Geingob said he was asked by the newly appointed Chief Executive Officer, Alisa Amupolo, to familiarise himself with the entity’s operations.
Geingob said Namdia serves as a catalyst that unlocks the value of Namibia’s natural resources, aimed at increasing the fiscal resources in government’s pursuit for socio-economic development.
“What I have seen today, we are rich. We have all types of diamonds and we should hold hands and build the Namibian house in unity. We can develop the country with diamonds… Now that we have them, let’s not break the house because it is more difficult to build than it is to break,” he said, further urging Namdia to ensure that Namibian diamonds are sold locally.
Source: The Namibian Press Agency
