Diamonds from Katutura

08 February 2019 | Business

Local diamond cutting and polishing company Reign Investments, in partnership with an Israeli diamond polishing firm DYS Diamonds, said it is difficult to expand the company because they are struggling to secure enough high-quality stones.

DYS Diamond Manufacturers is a joint venture between Dalumi Diamonds, Yerushalmi Brothers and Sahar Atid Diamonds which are three major diamond cutting and polishing companies and each is a De Beers sightholder.

During a media tour at its polishing factory in Katutura this week, local director Kuirii Tjipangandjara said they can double their workforce once they get more rough diamonds with the right quality.

Local director Frans Ndoroma said they have decided to build the new purpose-built factory in Katutura close to the employees.

The initial factory was situated in the Prosperita industrial area.

“This is to cut unnecessary transport costs. Obviously we had a few questions. People asking 'this is Katutura, these are diamonds. Is it a wise move?'” He added that they have their eyes set on manufacturing jewellery but this still remains in the pipeline. Meanwhile DYS factory manager Edwin John said their manufacturing centres use the most advanced tools for all rare goods.

“The global team use a broad marketing network with global presence in Tel Aviv, New York, Los Angeles, Hong Kong, Shanghai, Japan and Singapore,” he said.

According to him they have been a sightholder since 2016 and are committed to the highest professional standards. According to him they currently employ 91 employees of which 13 are expatriates and the remainder, locals.

“We believe in strong skills transfer focussed on development and excellence. The local partners have 25% shareholding,” he said.

JEMIMA BEUKES

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