Namdia Equipment

NAMDIA GARNERS USD$143M IN FIRST ANNUAL SALES

RAPAPORT… Namibia’s rough-diamond division is expanding its client base, after seeing strong sales in its first year of operations.

Namdia garnered revenue of NAD 2 billion (USD$142.8 million) in the 12 months that ended February 28, and last week declared a dividend of NAD 50 million ($3.6 million) to the government. It reported an after-tax profit of NAD 139.4 million ($10 million).

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NAMDIA – NAMIB DESERT DIAMONDS (PTY) LTD | ANNUAL REPORT 2017/18

Introduction

ADV SHAKESPEARE MASIZA – NAMDIACHAIRMAN

“On behalf of the NAMDIA Board of Directors, I’m pleased to present the company’s Annual Report for the 2017 financial year. NAMDIA is committed to creating value for its clients and shareholders. We have been operating for almost two (2) years and I am pleased to see progress across all areas of our business, with many of the strategic initiatives gaining momentum and generating positive results.

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NAMDIA PAYS N$50 MILLION DIVIDEND TO SHAREHOLDER

Namdia recently declared dividends of N$50 million to our shareholder – the Government and People of Namibia. The dividend handover was done by our CEO, Kennedy Hamutenya to the Minister of Mines and Energy, Honourable Tom Alweendo at the Ministry of Mines and Energy last week. Please see Kennedy’s full speech below:

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Vacancy: ICT Technician/System Administrator

Namib Desert Diamonds (Pty) Ltd (NAMDIA) is a cutting edge diamond marketing and sales company, perfectly positioned to create a sustainable route to market a portion of Namibia’s unique and highly sought-after diamonds .Established in 2016 by the Government of the Republic of Namibia, it trades as a private company, governed by the Companies Act, with limited liability.

Department: Safety and Security

Position: ICT Technician / System Administrator

Closing Date: 26 October 2018

Download Vacancy Advert Here

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Namdia Equipment

NAMDIA Addresses Allegations Of Underselling Diamonds

Namib Desert Diamonds (Pty) Ltd – NAMDIA – wishes to address the allegations, innuendos and suggestions made by selected media claiming that NAMDIA has “deliberately sold the country’s diamonds cheaply to Dubai” and there is “continued suspicion of selling diamonds for peanuts to Middle East-based companies”. It further suggests that NAMDIA “had sold diamonds for US$500 (around N$7100) per carat” suggesting that the company has undersold diamonds.

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Namdia Targets Foreign Diamond Markets

Namib Desert Diamonds (Namdia) said it will export its annual 15 percent entitlement of diamonds produced by Namdeb Holdings in line with the marketing and sales agreement signed between Namibia and De Beers in 2016.
Under the sales agreement the Namibia Diamond Trading Company (NDTC) sells the country’s rough stones, on behalf of Namdeb Holdings, to De Beers for its 85 percent entitlement and the rest to Namdia.
De Beers in turn sells part of its entitlement to sightholders in Namibia and takes the remainder to Gaborone for aggregation.
“Our 15 percent, or a minimum of $150 million, was earmarked for international sales and not for the local market,” company chief executive Kennedy Hamutenya was quoted as saying by a local newspaper, New Era.
“This was a deliberate policy decision by the government in order to make inroads into the international market and reduce our reliance on the middleman in selling our stones. This was done to give us better insights into this very secretive and opaque industry.”
He said Namdia does not deal in or handle diamonds mixed with those of other producing nations.
“When a client is buying Namdia diamonds they can be guaranteed that they are buying a 100 percent Namibian-mined diamond,” said Hamutenya.
“This is particularly important for those clients who want to give assurance to their end user client that they know the source of the diamond – that it was not involved in child labour, that it is not tainted as a conflict or blood diamond and that it has no links with money laundering or financing of terrorism.”

Source: Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished 

Namdia optimistic about 2018

Namib Desert Diamonds’ (Namdia) outlook for the Namibian diamond industry in 2018 is positive despite a few challenges.
In a media statement, Namdia Chief Executive Officer Kennedy Hamutenya said the industry remains firm despite challenges such as the long-term demand for natural diamonds in light of the introduction of man-made synthetic diamonds.
“We in Namibia stand strong on the evidence that we have some of the finest high quality gemstones in the world for which there will always be a demand”, he said.

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