Windhoek-Chief Executive Officer of Namib Desert Diamonds (NAMDIA), Kennedy Hamutenya, has rubbished allegations that the newly established company sold Namibian diamonds below market value.
NAMDIA was established in 2016 to trade Namibian rough diamonds directly in the international markets without using middlemen and not through De Beers, as is the case with the rest of the 85 percent of the diamonds marketed and sold through them.
Since Namib Desert Diamonds (Namdia) was established by government in 2016 it has come under fire from various quarters. Critics of the new diamond trading entity, which was basically started to search for better prices for Namibia’s high-quality gem diamonds, have accused the company of selling the country’s diamonds for below market value and of selecting a valuation company with little to no experience in the industry. An alleged disagreement between the board and CEO Kennedy Hamutenya, and the mines ministry, also played out in the media as unsubstantiated reports of a power struggle ensued. This week New Era’s Senior Business Reporter, Edgar Brandt (EB), sat down for an exclusive interview with Hamutenya (KH) to clarify Namdia’s role in the market and to provide some insight on the alleged power struggles.
Windhoek – Namibian diamonds are of the highest quality in the world. The world’s diamond manufacturers and diamantaires, therefore, have a great appetite for these precious stones. This is the view of Kennedy Hamutenya, Chief Executive Officer of Namib Desert Diamonds (NAMDIA), which was established in 2016 “to discover the price of Namibia’s rough diamonds in the international market”