Questions from stakeholders

There is a clear correlation between the reputation of diamonds as a luxury product and how diamonds are extracted and manufactured.

African governments that promote the rule of law, implement sound economic and social policies, attract foreign investment and enhance the reputation of natural resources help reinforce positive imagery and contribute to the value of diamonds.

The Family of Companies works in partnership with these governments to promote transparency and sustainable development.

Working with governments requires an appreciation of their obligations, as part of the democratic process, to consult and engage internal and external stakeholders in decision-making.

This can take time. Governments also have to engage constituents beyond their own boundaries, particularly in view of the importance that stakeholders in consumer countries attach to country risk and reputation.

The political and economic stability that is so vital to the long term interests of investors in the extractive industries means that it is in their interest, as well as ours, to help promote a business environment that is conducive to the proficient management of risk and reputation.

Source:  Multi-Stakeholder Forum

Economic empowerment in South Africa is incorporated in the national BEE (Black Economic Empowerment) Policy and programme.

BEE is a pragmatic growth strategy that aims to realise the country’s full economic potential by "empowering" HDSAs (Historically Disadvantaged South Africans). This includes black and Asian people, women, youth and rural communities.

BEE is a South African initiative progressively applied in Namibia. In Botswana, the focus is on Citizen Economic Empowerment (CEE).

Empowerment involves the development of local capacity, locally owned industry and economic diversification. It enables all people to participate equally in economic development.

The national BEE framework in Namibia is still in development, although the mining industry has developed its own BEE charter with government.

Source: Multi-Stakeholder Forum