WINDHOEK, 13 APR – The KGK Group opened a diamond cutting and polishing factory in Windhoek on Friday.
Speaking at the official inauguration, Minister of Mines and Energy Tom Alweendo described the factory’s opening as a major milestone in the diamond industry.
He said it speaks directly to the diamond sorting, valuing, sales and marketing agreement entered between government and diamond giants, De Beers in 2016.
“We believe the improved terms of the new agreement will result in increased opportunities for job creation, skills transfer and investment in infrastructure and technology,” said Alweendo.
He said KGK’s arrival was testament that Namibia, due to the peace and stability that prevails in the country, was an ideal investment location.
“What we are seeing here today is indeed a complement to those that have and continue to advocate Namibia as an investment destination,” he said.
Alweendo assured government’s full support to KGK’s endeavours in the country, adding that it should provide young Namibians with requisite skills to add value to the country’s rough diamonds in the future.
The minister further reaffirmed government’s commitment to downstream diamond beneficiation which is aimed at boosting employment creation.
KGK spent N.dollars 14 million in the investment and employs 35 Namibian and 18 Indian nationals.
The investment is set to increase as the company intends to employ 30 more Namibians and offer further training by the end of the year.
Namibian diamonds will now be sold at 18 different KGK outlets around the world.
Speaking at the same gathering, KGK’s Managing Director, Sandeep Kothari vowed to cooperate with stakeholders in the diamond sector, develop human capital and build a long-term relationship.
“We constantly believe that the more we enrich them [employees], the more we skill them, the better the organisation is going to grow,” said Sandeep, adding that the company will send five Namibians to Surat, India for 10 weeks of training from next week.
KGK also has facilities in Botswana and South Africa.
The group originated in Jaipur, India in 1905 and has business interests and expertise ranging from the global manufacture of diamonds, gemstones and jewellery to infrastructure and real estate development.