Diamond firm takes off secretly

A new government diamond company which is predicted to sell stones worth over an estimated N$2,1 billion per year, quietly started operating, amid concerns about the secrecy surrounding the selling off of Namibian resources.

Namib Desert Diamonds (Namdia) is a 100% state-owned company born out of an agreement between the government and diamond multinational De Beers signed earlier this year. The company will serve as a diamond sales and marketing arm of the state, but its operations have been largely secretive.The government normally announces heads of state-owned enterprises such as boards of directors and chief executive officers, but the state remained tight-lipped on the key aspects of this company until The Namibian enquired about it this week.