Tuesday, January 19, 2021

DTC to hold first sale next week

The Diamond Trading Company (DTC) Botswana will next week reach another major milestone when it holds the first sale to its clients, who are 16 of the world’s leading diamantaires licensed to cut and polish diamonds in Botswana for the express purpose of creating a sustainable diamond manufacturing industry in Botswana.

The DTC Corporate Communication & Public Affairs Manager, Kago Mmopi, said the rough diamonds, sourced from DTC’s aggregated mix, will be sold from a new state-of-the-art building that was recently officially opened by former president Festus Mogae. It is expected that ten sales Sights will be held on an annual basis.

Over the course of the first sales week, Mmopi explained that clients will visit the DTC Botswana offices to view the goods in order to verify that their requirements have been met. He said overseeing the sales process will be the Head of Sales and Marketing, Toby Frears, and the two DTC Botswana Key Account Managers, Boitumelo Nyanga and Mbuya Ntabe, who were both trained by DTC London as part of the skill transfer programme.

“This year DTC Botswana will supply US$375 million worth of aggregated rough diamonds to 16 locally established diamond cutting and polishing companies. It is also expected that by the end of the decade, over US$550 million of aggregated rough diamonds will be supplied in Botswana per annum,” said Brian McDonald, DTC Botswana’s Managing Director.

According to Frears, the journey to DTC Botswana’s first sale began on the 14th of November last year with the announcement of the DTC Botswana client list and the formalization of the supply arrangements for the 16 Botswana-based diamond manufacturing operations. He highlighted that the job creation, skills transfer as well as the commitment to manufacture the diamonds locally were the key criteria for receiving supply.

The establishment to this company has already realized employment creation of over 2000 people. This company will also be responsible for aggregating rough diamonds from producer countries around the world in Botswana from 2009, which will result in further employment creation.

By facilitating the establishment of a sustainable cutting and polishing industry in Botswana, the Government of Botswana and DeBeers are hoping to pave the way for additional downstream activities in the future. As part of the beneficiation initiative, both parties will continue to facilitate, drive and support the creation of Botswana’s downstream industry. It is also hoped that local jewellery manufacturers will make full use of this opportunity as the industry develops.

Recently, DTC Botswana launched the Shining Lights Awards Diamond Design Competition with the aim to develop skills and increase career prospects in the area of jewellery manufacturing.
It is also expected that the expansion of diamond activities by DTC Botswana will give rise to growth of secondary business sectors such as banking, security, and Information Technology (IT). This is expected to contribute to the cultivation of a more advanced diamond industry and to further provide opportunities for Botswana’s economy to grow.

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