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Kimberley Process chair supports Namibia’s rough diamond valuation initiative

21st October 2016

By: Mia Breytenbach

Creamer Media Deputy Editor: Features

  

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As part of his Africa Initiative, United Arab Emirates (UAE) Kimberley Process (KP) chairperson Ahmed Bin Sulayem has met with Namibia Prime Minister Dr Saara Kuugongelwa-Amadhila in Windhoek, to discuss KP-related matters, focusing principally on initiatives regarding rough diamond valuation and the country’s diversification strategy to foster economic growth using revenues generated from the sale of rough diamonds.

The KP certification scheme is a collaborative initiative between governments, industry and civil society to stem the flow of conflict diamonds into the diamond trade. There are 54 participants representing 81 countries, including the UAE.

Namibia, a KP member since 2003, became the vice chair in 2008 and took the KP chair role in 2009.

“Namibia is an active member of the KP and is embracing the country’s new business framework to provide more jobs in the mining sector and other parts of the economy. This aligns well with our rough diamond valuation initiative. “Across the country, a robust infrastructure is in place, and business opportunities are emerging for the benefit of Namibia. “With several airlines opening direct flights to Namibia, including Qatar Airways, I expect to see increased connectivity and trade with [the Gulf Cooperation Council] and other countries going forward,” Bin Sulayem commented in a press statement issued last month.

In recent years, Namibia has been creating a business-friendly environment along with the strategy of diversification away from a heavy reliance on the extraction and processing of minerals for export.

“We have high anticipation that being part of the KP family will assist Namibia to sustain its efforts to provide economic growth and improved welfare for its people,” Kuugongelwa-Amadhila noted.

Namibia has been mining diamonds since 1908 and, currently, its overall mining activity accounts for almost 8% of gross domestic product.

“However, what is important about this is the funding that the diamond industry supplies to help Namibia diversify its economy. “We cannot rely on diamonds forever, [therefore] government is looking at ways to optimise benefits from diamonds to improve people’s lives while at the same time building a new economy for the future,” she explains.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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