The Namibia Diamond Trading Company (NDTC) has declared a total of N$2.8 billion in dividends to its two shareholders since inception.
The company declared a dividend of N$100 million during the 2023 financial year. NDTC is a 50-50 joint venture between the Namibian Government and De Beers Namibia Holdings and was formally established in January 2007.
NDTC Chief Executive Officer Brent Eiseb said the company marketed more than 2.3 million carats during the 2023 financial year.
“For the 2023 rough diamond supply period NDTC sold approximately 77% of its total offering to NDTC Sightholders despite the challenging market conditions. I am particularly pleased to inform you that 88% of the total sales to NDTC Sightholders during 2023 was fully processed in Namibia,” he said.
The CEO highlighted that this is a significant achievement considering the industry was averaging 38% a few years ago.
He observed that this has led to sustainable job growth in downstream industries and boosted technology and infrastructure investments in Namibia’s cutting and polishing sector.
Meanwhile, other notable achievements in 2023 for NDTC include a N$1.9 million investment in training and development.
The CEO prided that in response to the significant increase in carat intake from NAMDEB Holdings, fueled by the commissioning of the Benguela Gem diamond recovery vessel in early 2022, NDTC has ramped up its operations.
Eiseb noted that this includes a 13% expansion of staff, especially in the diamond sorting and valuation department.
“NDTC expanded its technological footprint with the successful adoption of world class sorting technology that enables efficient and effective methods of facilitating its sorting and valuation mandate,” Eiseb said.
NDTC achieved significant milestones in corporate tax payments, contributing N$84 million in 2023 alone and a remarkable N$1.5 billion since its establishment in 2007.
NDTC paid N$197 million in export levy payments in 2023, adding to a cumulative total of N$953 million since the enactment of the Export Levy Act in 2017.
Eiseb noted that as Namibia’s flagship diamond sorting and valuing brand, contributing significantly to national growth and a sustainable future NDTC employs 91 Namibians to undertake the sorting, valuation, and sale of Namibia’s rough diamond production.
In addition to this, NDTC supplies rough diamonds to 15 NDTC Customers for value-addition purposes and these customers, in turn, employ over 1,300 Namibian citizens.
“Each of these Sightholders has their own manufacturing entities and social programmes in support of various social/charity organisations,” said Eiseb.
