By Staff Reporter
Windhoek, Oct. 24 — Namib Desert Diamond (Pty) Ltd. is glad to share its most recent annual report, which has been audited, for the fiscal year 2021–2022, as well as to declare a dividend.
The COVID-19 pandemic shaped two very difficult years, so the astonishing comeback of the diamond industry was a tremendous relief. In order to remain relevant to our clients and shareholders, NAMDIA continued to increase operational effectiveness and refine its business strategy during the reporting period.
During the fiscal year 2021–2022, NAMDIA had a successful year. N$144.7 million in profit was made after taxes, up from N$13.3 million the year before.
Below is an overview of NAMDIA’s performance:
N$ 150 million in dividends were declared to the Shareholder, the Government of the Republic of Namibia.
Profit after tax amounted to N$144.7 million, compared to N$13.3 million the previous year.
10 Sales conducted in the 2021/2022 financial year.
In line with the recovery in the industry, NAMDIA margins improved to 7.0 percent above the 100 percent SSV during the period.
NAMDIA purchase volumes totalled 222,978 carats, an increase of 53.8 percent compared to the previous year.
Sales revenue increased by 78.7 percent to US$128 million.
The buying average carat price was US$536.55 compared to the selling average carat price of US$574.21.
36 New Clients Selected for 2022/2023 – 2025/2026.
N$218 million Profit before tax for the 2021/2022 financial year.
N$40 million Dividend was paid to shareholders on 05 November 2021 based on the 2020/2021 financial year.
N$ 244,840 was invested in staff training and development.
NAMDIA is in a very sound financial position, with cash reserves amounting to N$395 million at year-end. Reserves are maintained for future expansion of activities and as required collateral for banking facilities in the absence of a Government guarantee.
NAMDIA purchases its 15 percent entitlement from Namibia Diamond Trading Company (NDTC) using a revolving overdraft facility which settles upon the sale of goods. The US Dollar banking facility with RMB Namibia was renewed in December 2021 at US$27 million and is secured by the collateral of a 12-month Fixed Deposit placed with RMB for N$145 million. The facility incurs interest at a credit margin above LIBOR.
The organization has spent more than N$30 million on various corporate social responsibility (CSR) programs since NAMDIA’s founding in 2016. The NAMDIA Foundation’s mission is to transform the social and economic foundation of our country via inspiring initiatives in the priority sectors of sports, health, and education.
Overview of The NAMDIA Foundation’s activities during the period under review:
N$7.6 million to the Ministry of Health and Social Services for the construction of an oxygen generation plant at Mariental State Hospital and the acquisition of oxygen concentrators and related equipment.
N$1.5 million to the Windhoek Eye Clinic at Windhoek Central Hospital for the purchase, repair and maintenance of various medical and surgical equipment.
Namibia’s National Olympic Team, NAMDIA sponsored N$661,980 for the Namibian team’s participation at the 2020 Tokyo Olympics.
Sponsored N$258,728 to Athletics Namibia for the Namibian Team’s participation at the World Athletics Under 20 Championship in Kenya.
Sponsored the Namibia National Women’s Rugby Team with kits, valued at N$133,750.
Other initiatives included but were not limited to, the donation of food parcels and other items as part of NAMDIA’s COVID-19 response plan, and a sponsorship to enable Miss Namibia 2021, Chelsi Shikongo, to participate in the Miss Universe pageant.
The NAMDIA Foundation is devoted to making significant contributions towards the advancement and prosperity of Namibians through its various impact programs.
Namib Desert Diamonds (Pty) Ltd remains committed to executing our carefully crafted strategy, maintaining a disciplined approach to our mandate and sales strategy, and growing our returns. As we embark on our new 5-year horizon expansion plan, NAMDIA’s association and commitment to its Corporate Governance guidelines will ensure our transformation into a sterling example, sustainable institution and global premium diamond trader of ethically sourced Namibian Diamonds.
Downloadable Annual Report is available on www.namdia.com