South Africa’s Diamond Industry: Unites Under a New Umbrella Body

In a landmark development for the Southern African diamond industry, the Diamond Dealers Club of South Africa (DDCSA) and the Rough Diamond Dealers Association (RDDA) have formally concluded their amalgamation, marking the successful culmination of a process that has eluded the industry for many years.

Following several previously unsuccessful attempts, this milestone has been achieved through ten months of structured engagement, collaboration, and shared commitment to a unified future.

The two organizations have now registered a new entity and consolidated their respective constitutions into a single, cohesive framework. This unified structure is designed to enhance representation, strengthen governance, and amplify the collective voice of the diamond industry across Southern Africa.

This transition is not merely administrative, it is strategic. It positions the industry to operate with greater alignment, resilience, and influence, ensuring it is better equipped to serve, protect, and advance the interests of its stakeholders in a rapidly evolving global market.

Introducing DGJASA

The newly established body will operate as the Diamond Gem & Jewellery Association of Southern Africa (DGJASA).

In a forward-looking step, DGJASA expands its scope beyond diamond dealers to include gem dealers and jewellers, creating a more inclusive platform aimed at strengthening industry collaboration, promoting natural diamonds, and building consumer confidence across the broader jewellery sector.

Leadership Appointments

The inaugural leadership of DGJASA has been appointed as follows:

• President: Mr. Molefi Letsiki
• Vice President: Ms. Claudia May
• Board Members: Mr. Neil Rademeyer, Mr. Nainesh Parag, Mr. Pappie Mokoena, Mr. Jeffrey Brenner, Mr. Ian Lutrin, and Mr. Martin Mashaba

On 29 April 2026, the Board was formally constituted, the unified constitution adopted, and key resolutions passed, setting a clear foundation for the organization’s future.

A Unified Vision for the Industry

DGJASA is committed to protecting the interests of diamantaires, promoting fair and transparent trade, and reinforcing the position of natural diamonds within the global marketplace.

Speaking on the milestone, President Mr. Molefi Letsiki stated:

“This unification is a defining moment for our industry. In a time of increasing complexity, unity is essential. Through DGJASA, we are building a stronger, more inclusive diamond sector, one that protects the legacy of natural diamonds while actively shaping their future and reinforcing their enduring value.”

This unification signals a renewed commitment to industry cohesion, ethical standards, and long-term value creation, both within Southern Africa and in alignment with international partners such as the World Federation of Diamond Bourses.

The global diamond industry is navigating one of the most complex periods in recent decades. We are operating in an environment shaped by rapidly shifting geopolitical dynamics, regional conflicts, tensions among major powers, economic uncertainty, and evolving consumer behaviour, all of which continue to influence the landscape in which we operate.

These global developments are directly affecting markets, international trade flows, and consumer confidence worldwide.

SOUTH AFRICAN TRADE GROUPS MERGE TO FORM NEW DIAMOND ASSOCIATION

Two key South African industry organizations have amalgamated to create a new umbrella group that will promote the trade’s interests in the country.

The Diamond Gem & Jewellery Association of Southern Africa (DGJASA) will replace the Diamond Dealers Club of South Africa (DDCSA) and the Rough Diamond Dealers Association (RDDA), the recently formed group said last week. It will aim to boost representation, reinforce governance and strengthen the unity of the diamond industry across South Africa. It will also strive to protect diamantaires’ interests, foster fair and transparent
trade, and improve the position of natural diamonds in the global market, it added.

“This unification is a defining moment for our industry,” said Molefi Letsiki, former chairman of the DDCSA and president of the new organization. “In a time of increasing complexity, unity is essential. Through DGJASA, we are building a stronger, more inclusive diamond sector, one that protects the legacy of natural diamonds while actively shaping their future and reinforcing their enduring value.”

On April 29, the group formally established its board, which includes Claudia May as vice president. It also adopted a constitution and approved key resolutions. The collaboration reflects a new pledge to the South African diamond sector’s unity and ethical standards, as well as to sustainable long-term growth, the DGJASA said. The new group, which includes representatives from the gem and jewelry segments, will partner with international organizations such as the World Federation of Diamond Bourses (WFDB).

Chairman’s Report

Have we truly asserted the rarity and inherent value of natural diamonds, formed over millions of years in the depths of the earth?
Have we clearly articulated how essential diamonds are to the economies of producing countries, and the benefits the industry provides?
Have we played our role in renewing the reputation of natural diamonds as a precious symbol of love and a force for good in the world?

The global diamond industry is navigating one of the most complex periods in recent decades. We are operating in an environment shaped by rapidly shifting geopolitical dynamics, regional conflicts, tensions among major powers, economic uncertainty, and evolving consumer behaviour, all of which continue to influence the landscape in which we operate.

These global developments are directly affecting markets, international trade flows, and consumer confidence worldwide. I reflect on a time when we could comfortably plan and project using historical data. Today, however, the pace of change has far surpassed what we once considered normal. This places a responsibility on us as an industry to innovate, adapt, and meaningfully distinguish ourselves. From leveraging new technologies to personalise diamonds and jewellery, to sharpening our value propositions and investing in product innovation, we are being presented with an opportunity to evolve and lead. The opportunities for differentiation and growth are significant, particularly as we begin to understand and embrace powerful tools such as AI.

We can no longer rely on the assumption that prices will always rise. Instead, by understanding where our businesses generate the strongest returns, we can better position ourselves to adapt, grow, and remain relevant. I stand before you today with the realisation that this will be my final Chairman’s Report for the Diamond Dealers Club of South Africa. This comes as we move toward the formal amalgamation with the Rough Diamond Dealers Association, a significant milestone achieved after years of previously unsuccessful attempts and ten months of structured engagement and collaboration. The two organisations have successfully registered a new entity and consolidated their constitutions into a single unified framework, designed to enhance representation, strengthen governance, and amplify the collective voice of the South African diamond industry. This transition is not simply administrative, it is strategic. It positions us to build a unified industry body that is better equipped to serve, protect, and advance the industry into the future.

Strategy of the New Organisation

Membership of the new organisation will continue to provide:

• Access to global diamond bourses through the World Federation of Diamond Bourses
• The assurance of dealing with individuals who are screened and held to the highest standards of ethics and conduct
• A framework of internationally recognised rules and principles
• Access to local arbitration, disciplinary, and mediation structures
• The support of international arbitration mechanisms

These remain important. They form the foundation of who we are. However, the reality is that these benefits, while necessary, are no longer sufficient on their own. They speak to structure, compliance, and protection, but not enough to growth, relevance, and demand creation. That is where the shift must happen.

If we are to remain meaningful as an organisation, we cannot only be custodians of standards. We must become active participants in shaping the future of our industry.

We believe this will be achieved through a focused strategy:
1. Introducing tiered membership structures with differentiated privileges, while broadening industry participation under a unified arbitration and disciplinary framework
2. Ensuring that membership fees are not only used for administration, but are actively invested in promoting natural diamonds to the consumer, allowing us to play a direct role in rebuilding demand
3. Becoming more visible and relevant in the digital spaces where modern consumers engage
4. Creating stronger industry connectivity through workshops, engagements, and strategic partnerships that deliver tangible value to members
5. Strengthening relationships with government to ensure meaningful industry participation in decision-making,particularly where such decisions impact the sector
6. Protecting the interests of diamantaires, promoting fair and transparent trade, and reinforcing the position of natural diamonds in the global marketplace

This is the evolution required of us, moving from being an organisation that serves its members, to one that actively shapes the environment in which its members operate.

WORLD FEDERATION OF DIAMOND BOURSES (WFDB)

The newly established organisation will assume the DDCSA membership within the WFDB and will be formally introduced to the global diamond community at the World Diamond Congress 2026 in Singapore in July.

This Congress, hosted by the Singapore Diamond Exchange in partnership with the World Federation of Diamond Bourses (WFDB) and International Diamond Manufacturers Association (IDMA), will also see the election of new leadership within the WFDB.

CONCLUSION

I would like to extend my sincere appreciation to the outgoing committees and all sub-committees for their dedication and commitment to both organisations and to the industry at large. My thanks also go to all members for your continued support, and to Maphefo and Ruth for your unwavering service. I firmly believe that we are not simply bringing two institutions together, we are laying the foundation for a stronger, more unified industry that is better positioned for the future. The diamond industry is at its strongest when it is united, particularly when its leaders come together to shape its future. The future of our industry will not be defined by what we inherit, but by what we choose to build together from this moment forward.

Thank you all.
MOLEFI LETSIKI
President of the Diamond Gem & Jewellery Association of Southern Africa (DGJASA)

FOR MORE INFORMATION

✆ +27 11 334 1930
✉ diamonds@diamonds.org.za