Tribalist

De Beers and Enterprise Development

Posted by Daniel Makhura on 26 July 2017 8:30 AM SAST

At the launch held in Johannesburg on 13 July 2016, De Beers, along with government and other industry stakeholders, unveiled the Enterprise Development Project for Diamond Beneficiators.

De Beers confirmed its desire to continue to facilitate the growth and competitive sustainability of the local diamond beneficiation industry and to achieve national transformation goals. The Company supplies by value 40% of its local diamond production for beneficiating in South Africa.  

The five Historically Disadvantaged South African owned diamond cutting and polishing companies that have been selected to participate will receive assistance in their entrepreneurial development and ‘hands on’ support from leading business incubator specialists Raizcorp.

Through its on-going support for the project members, De Beers will make available; bespoke rough diamond supply to the selected companies on the basis that they formally identify polished markets and distribution channels; the facilitation of access to business funding, state of the art infrastructure and industry specific mentorship from the existing De Beers clients; and access to a full time Project Manager.

The successful implementation of the project will result in; an increase in the cutting and polishing of rough diamonds in line with the South African Government’s beneficiation strategy; the acceleration of transformation in the diamond cutting sector; and the transfer of skills and entrepreneurial development.

Each of the project members can give the assurance to its customers that; its diamonds are cut and polished in South Africa by South Africans; they are fully supported by De Beers, the world’s leading  diamond company; quality of their polished diamonds is guaranteed as per internationally recognised standards; and they adhere to the highest industry ethical standards.

In addition, by purchasing polished diamonds from the project members, customers will be participating in the economic growth and development of South Africans.

The companies that have been selected after extensive consultation with the industry to participate in the project went through a rigorous selection process that included the requirement by the applicants to demonstrate existing experience in the industry, a passion to grow their businesses, entrepreneurial potential and a willingness to learn are the following:

Molefi Letsiki Diamond Holdings

Molefi Letsiki’s father was a diamond polisher – his passion really came from seeing how something so beautifully brilliant can come from a piece of rough carbon.

Nungu Diamonds

Kealeboga Pule, a law graduate, young diamantaire and founder of Nungu Diamonds, was drawn to the undeniable beauty and allure of diamonds whilst in his second year at university.

Thoko’s Diamonds

Like Mother like son, Thoko and Zipho from Thoko’s Diamonds. Thoko, a first class polisher that wanted her own business. She started in the Velani Hive, moving out when she realised that she had the potential to grow and build her legacy. She has now passed on the baton to her son Zipho to assist in the running of the business.

Kwame Diamonds

Jo Mathole hooked by diamonds, gave up a career in the stock broking industry to manage a Sightholder’s factory – the first black woman to do so

Diamonds Africa

Munirah Desai went from buying a diamond to wanting to be a part of the industry. Driven by passion and love for diamonds, she believes that the potential is out there to develop new markets for South African polished diamonds.