Dubai, Belgium dominate Namdia client list

THE state-owned Namib Desert Diamonds (Namdia) will mostly sell its diamonds to companies based in Dubai, Belgium and Israel for the next three years.

These details are contained in a statement issued by the company on Friday.

The 36 clients include nine companies from Dubai, nine from Belgium, eight from India, and five from Israel.

Three companies are from the United States, while two are Namibian entities.

“Namdia looks forward to continue fostering and building strong working relationships with its clients, and remains committed to creating a global footprint for Namibian diamonds and securing the best value for one of our country’s most precious resources,” the company said.

The company will sell the gems to special clients from 2022 to 2026.

People familiar with the matter told The Namibian last year that Dubai-based SBMH Group DMCC has ranked among the top beneficiaries of Namdia’s diamonds.

The 100% state-owned company, which was born out of an agreement between the government and diamond giant De Beers in 2016, was established to ‘test’ whether Namibia was getting the best income through the multinational by going onto the open market.

But question marks have always lingered around Namdia’s formation, especially since it was started by ministers accused of corruption in the past, such as former minister of justice Sacky Shanghala, and former minister of mines and energy Obeth Kandjoze.

Both have in the past denied any wrongdoing.

Critics believe Namdia is still being used to enrich a clique of individuals in Namibia and Dubai, which the company has repeatedly denied.

Sources estimate that Namdia could earn between N$200 million and N$500 million in additional funds a year if it sold the stones to local companies that are allegedly willing to pay more than foreign-based companies.

The client list includes Namibian companies Tate Diamonds, owned by Tangeni ‘Tashi’ Shiimi-ya-Shiimi, and Schacter and Namdar Namibia.

Some of the requirements the firm considers include a good business reputation, financial stability, experience in the trade of natural rough diamonds, subscription to the Kimberley Process, and having enough money to pay for the gems.

Namdia has for years faced allegations of corruption and questionable dealings.

In 2020, Namdia paid N$30 million to American diamond merchant Maurice Templesman, buying him out of the diamond-polishing factory at Okahandja.

Last year, Namdia’s executives, led by chief executive officer Kennedy Hamutenya and directors, said the N$30 million is worth nothing, and there are plans to write it off.

Namdia’s full list of special clients:

Dubai: SBMH Group, DA Trading DMCC, Dhamani, KP Sanghvi, Lamha Jewels, Mira DMCC, Samir Gems, Yaelstar DMCC and M Suresh Company DMCC.

Belgium: AC Diam BVBA, Chintan Gems, Dev Jewels BVBA, Diamond Trading, Diamwill, Pluczenik Diamond, Rosy Blue NV, Sarvin BV and SV Gems.

India: Kapu Gems, KBS Diamonds, Pansuriya Impex LLP, Shivam Jewels, Hari Krishna Exports, Pansuriya Impex LLP, SNJ Diam and Shree Ramkrishna,

Israel: DYS Namibia Group, D Navinchandra Exports, JB & Sons, Levintal Diamonds, SegalDiam and Andre Messika Ltd.

United States: Grandview Diamonds, Lieber & Solow and Seneca.

Namibia: Tate Diamonds and Schacter and Namdar.

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