Namibia Joins Regional Diamond Pact, Pledges 1% of Sales to Marketing of Natural Gems: Ministry
Namibia Joins Regional Diamond Pact, Pledges 1% of Sales to Marketing of Natural Gems: Ministry
The country has become the latest signatory to the Luanda Accord, a regional initiative aimed at supporting the natural diamond industry, the Ministry of Industries announced following a meeting of the Natural Diamond Council (NDC).
"The time has come for African diamond-producing nations to speak with a single, powerful voice," Minister Modestus Amutse said at the signing event.
The country joins Angola, Botswana, and the Democratic Republic of Congo in the NDC pact, signed initially in June 2025.
Key details:
🟠Namibia has committed to allocating 1% of its diamond sales revenue to marketing natural diamonds.
🟠The move comes amid falling prices for natural stones and growing competition from synthetic gems.
🟠Angola has already contributed $8 million to the NDC and plans further payments.
🟠South Africa, the second top diamond producer in Africa, is not currently participating in the NDC due to licensing issues.
🟠Industry bodies from India and Dubai have signed memorandums of intent to join the supporting NDC.
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