Five diamond polishing and jewellery manufacturing companies have been selected the ground breaking project in partnership with Raizcorp.
De Beers Group has welcomed the second intake of five diamond polishing and jewellery manufacturing companies that will participate in its Enterprise Development Project for Diamond Beneficiators.
Launched in 2016, the Enterprise Development Project for Diamond Beneficiators, aims to facilitate the growth and transformation of the diamond beneficiation in South Africa, with a holistic approach that seeks to optimise interventions in all aspects of the diamond pipeline from rough diamond purchasing, state of the art manufacturing of diamonds and jewellery to marketing and distribution.
The five companies, which specialise in cutting and polishing of diamonds, precious metals refining and jewellery making include; B&H Mining, Irresistible Rough Diamonds, Isabella Jewellers, Outclass Crystalized Gems, and Sunrise Gem Stone. They were selected from a pool of companies that were identified by stakeholders from across the industry.
Of these companies, four have beneficiation licences; one has Jewellers’ permit and Precious Metals Refining Licence; two are 100% black female owned; with overall 3 female owned, and one is based in Kimberley.
Speaking at the launch of the programme at Raizcorp on 6 October 2020, Peter Phemelo Moeti, Senior Vice President of De Beers Sightholder Sales South Africa said: “It is pleasing that we have so many women in the project this year – this is aligned to the commitments we have made, including to the UN Women, to support female participation in our industry. Our aim is to assist with the growth and transformation of the diamond industry in South Africa. We are also extending our contribution to include jewellery manufacturers, thus demonstrating our support for beneficiation throughout the value chain. For us, it’s also about making sure that the companies we’ve appointed succeed in primarily having the competitive and very important entrepreneurial skills and those skills are provided by Raizcorp.”
Allon Raiz, CEO of Raizcorp said: “De Beers has been unique in its approach to enterprise development. They are so involved, a hands-on approach that allows us to give the best possible entrepreneurial development. If you look at the last cohort, those are big shoes to fill. If you look at the journey of entrepreneurs is that they go down and then they go up. The reason for that is we are remodelling your mind-set, your language, your thought pattern and we are remodelling you like you are remodelling the diamond. There is a huge amount investment from De Beers Group and Raizcorp in shaping you to become role models.”
Claudia Bompani, a 27-year-old female from Gauteng and owner of Irresistible Rough Diamonds, said she hopes the programme will provide her with entrepreneurial support, and that in the end, she will have a sound business and a good strategy in place. “I hope by the time I come out of this, I have diversified my business into different target markets,” she said.
Last year five diamond cutting, and polishing companies graduated from the ground-breaking project. Each participating company received an allocation of rough diamonds from De Beers Group, in line with their market requirements and capacity. In addition, the project facilitated local and international market access and sponsored their participation at international trade shows, including the Hong Kong Jewellery and Gem Fair and JCK Las Vegas.
Kealeboga Pule, an alumnus of the programme and owner of Nungu Diamonds, said the programme has helped him become a better businessman. “Raizcorp is a safe space for development, and I am a better at what I do because of their support and mentorship. It was a humbling experience, and today I am a better businessman because of it. As an alumnus of the programme, I pledge to be available to the new cohorts whenever they need”.
Eight members of the five diamond polishing and jewellery manufacturing companies selected in the De Beers Group Diamond Beneficiation Project in partnership with Raizcorp.
About De Beers Group
De Beers Group is a member of the Anglo American plc group. Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers Group are committed to ‘Building Forever’ by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth.