Five black South African diamond cutting and polishing companies have graduated from the first phase of De Beers Group’s enterprise development project for entrepreneurs.
(Programme participants L-R): Zipho Dlamini, Munirah Desai, Thoko Zwane, Jo Mathole, Molefi Letsiki, Khomotso Ramodipa, Kealeboga Pule
The three-year programme was facilitated by De Beers Sightholder Sales South Africa (DBSSSA) in partnership with business incubation experts Raizcorp.
It covered formal, curriculum-based learning in parallel with mentorship in business strategy, finance, sales, marketing and personal development. All five owners have subsequently seen significant turnover growth, and new jobs have been created.
Launched in 2016, the Enterprise Development Project for Diamond Beneficiators aims to help transform the diamond cutting and polishing industry in South Africa.
The project proved groundbreaking in its support for women in the industry, with two of the five participating companies being 100 per cent women owned and another one 50 per cent woman owned.
As part of the programme, each participating company received an allocation of rough diamonds from De Beers Group, in line with its market requirements and capacity.
In addition, the project has helped participants get local and international market access and sponsored their participation at international trade shows, including last year’s Hong Kong Jewellery and Gem Fair and JCK Las Vegas.
Peter Phemelo Moeti, Senior Vice President of DBSSSA, said: “Diamond cutting and polishing is a science, an art, a passion – the turning of an ancient resource into something truly brilliant. We believe that this project gives South Africans the opportunity to play their full part in unlocking the beauty and everlasting value from their most precious resource.
“I am very proud of our project members and the passion they have for this industry. They have become experts in telling good stories about diamond beneficiation in our country. Well done to all of them for reaching this point in their journey.”
Allon Raiz, CEO of Raizcorp, said he had been extremely impressed by De Beers Group’s high level of management and leadership involvement in the programme, and their care and attention to detail, adding that the results of the programme were excellent.
Thoko Zwane, project member and owner of Thoko’s Diamonds, said: “Having completed the programme, I am a better person and businesswoman. My team and I are more efficient and effective in the way we manage ourselves and handle the business. I would like to thank De Beers Group and Raizcorp for giving me this opportunity.”
De Beers Group is now in the process of reviewing the project with the aim of developing it into an industry-wide project in South Africa.
The five participants were: Thoko Zwane and Zipho Dlamini, owners of Thoko’s Diamonds; Munirah Desai, owner of Diamonds Africa; Kealeboga Pule, owner of Nungu Diamonds; Musibudi Jo Mathole and Khomotso Ramodipa, owners of Kwame Diamonds; and Molefi Letsiki, owner of Molefi Letsiki Diamonds Holdings.