Job cuts at Almod Diamonds amid sightholder fallout

Almod Diamonds will retrench 35 workers after losing access to local diamond supply, with management accusing authorities of ending its contract prematurely and treating the firm unfairly despite nearly two decades of investment in Namibia.The retrenchments follow a 2024 decision by the Namibia Diamond Trading Company (NDTC) to terminate the sightholder status of Duiker Investments One Hundred and Forty-Two Proprietary Limited, trading as Almod Diamonds Ltd, along with two other companies.At the time, then mines minister Natangwe Ithete said the companies had failed to meet NDTC’s minimum purchase requirements, which require firms to buy at least US$15 million worth of diamonds to retain their status.‘Survival mode’Almod Diamonds general manager Marco Teixeira said the company has been pushed into “survival mode” after nearly 20 years of operating in Namibia.“We feel we were treated with disrespect. Our contract ended prematurely,” he said.The company has now gone more than a year without access to local diamond supply.“We are the only company that has lasted this long without a diamond allocation or a site. We’ve gone for a year and a half without supply,” Teixeira said.As a result, the firm has been forced to source rough diamonds from Botswana and other international markets, a move he described as costly and unsustainable.“It is not the same as buying locally in Namibia,” he said.Jobs and skills at riskThe immediate impact will see 35 employees lose their jobs, reducing the workforce to fewer than 50.“These are not just numbers. Most of our employees have been with us for 10 to 15 years. They are skilled professionals who will now be forced to start over,” Teixeira said.He warned that the retrenchments could create a “skills vacuum” in Namibia’s diamond industry.“You are pushing out people who have become experts in diamond evaluation, production and management. That is dangerous,” he added.Employees say the impact extends beyond the workplace.“This is going to affect me a lot. I have medical aid, expenses and a newborn on the way,” said stock clerk Wilika Abisai. “Right now, we are just sitting here feeling depressed and unsure of what to do.”Unit manager Helemia Eigab said the layoffs would worsen unemployment in an already strained labour market.“When you look at the numbers, 35 people, it is not just those 35 individuals. Behind each person, there are dependents relying on them,” he said, adding that the sector is already under pressure from lab-grown diamonds.Calls for engagementTeixeira also criticised what he described as a lack of engagement from authorities.“We were not invited by the government or the ministry to explain our position. It was a one-sided process,” he said.Despite the setbacks, he said the company is trying to stay afloat, with the retrenchments forming part of a cost-cutting strategy.Government responseMines minister Modestus Amutse said the matter is under review and could require further engagement.“Since this was a case resolved by the court, I would need to review it further to see whether other opportunities exist,” he said.Amutse added that efforts are underway to explore ways to mitigate the impact on affected workers.“The aim is to explore alternatives to rescue employment opportunities and to see whether there are possibilities to reinstate those who have already been laid off,” he said.He said the process is ongoing and that the company will be informed once a way forward has been determined.nikanor@nmh-hub.com.na

Job cuts at Almod Diamonds amid sightholder fallout

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Namibian Sun 2026-03-18

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Job cuts at Almod Diamonds amid sightholder fallout

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Namibian Sun 2026-03-18

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