De Beers Enterprise Development Project for Diamond Beneficiators
Project members Receive First Supply of Rough Diamonds from De Beers
After the successful launch of the De Beers Enterprise Development Project for Diamond Beneficiators that introduced the five Historically Disadvantaged South African (HDSA) owned diamond cutting and polishing companies that will receive assistance in their growth and development, the next major step was for them to receive their first supply of rough diamonds from De Beers.
This took place at the De Beers sight in Kimberley during September 2016, when the selected companies were offered for purchase their first bespoke supply of rough diamonds.
This bespoke supply offering will be granted for the period that the companies are part of the development programme. On completion they will be able to apply to become De Beers Accredited Buyers, before they are ultimately in a position to apply for Sightholder status – similar to the top diamond cutting and polishing companies in the world.
Speaking on behalf of the project members, Musibudi Jo Mathole from Kwame Diamonds stated;
“Consistent supply is the key to any diamond business and this is an opportunity any growing diamond beneficiator prays for”.
The supply of rough diamonds is part of the holistic development programme afforded to the companies that are being supported and will go hand in hand with identifying new and sustainable markets for polished diamonds and securing finance to grow their businesses.
In developing their own marketing proposition, the participating companies 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;
- the 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 its polished diamonds, customers will be participating in the economic growth and development of South Africans.
About the Project
The five Historically Disadvantaged South African (HDSA) owned diamond cutting and polishing companies that will receive assistance in their development were selected
after extensive consultation with the industry and 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.
Through its on-going support for the project members, De Beers will make available;
- An entrepreneurial and business skills development specialist to provide a three year development programme, with all costs borne by De Beers;
- A bespoke rough diamond supply;
- Access to a full time project manager that will provide on-going diamond industry and business mentorship and facilitate access to;
- Sources of funding;
- Local and international markets for polished diamonds;
- Government and private industry Stakeholders – that have an interest in growing diamond beneficiation in South Africa;
- To industry specific technical expertise (including existing Sightholders);
- The De Beers Best Practice Principles Programme (BPPs).