News Column

Govt Receives N$50 Mill From NDTC

June 19, 2014



The Namibia Diamond Trading Company (NDTC) on Friday last week presented dividends of N$50 million to the Minister of Mines and Energy, Isak Katali. NDTC Chief Executive Officer, Shihaleni Ndjaba, handed over the cheque to Minister Katali. Receiving the cheque, Katali praised the NDTC for the work done. "The dividends we are receiving today are indeed testimony that the creation of the NDTC a few years back was a masterstroke.

As the engine behind the beneficiation of our diamond resources the NDTC has been and continues to do great work that is fuelling job creation, skills transfer, technology transfer and helping us to fulfil our NDP and Vision 2030 goals. So far 1200 direct jobs have been created and with it another 3600 indirect jobs. And it must be noted that, were it not for the global economic challenges, these numbers would be double what they are now", remarked Katali. "The global economic environment continues to be unstable, hence affecting the diamond industry as well. The markets are slowly picking up and we continue to hope for a steady recovery," said Ndjaba.

Total dividends paid by the company since its inception exceed N$1 billion, with this latest dividends shared between its two shareholders, which are the Government of Namibia and De Beers. Despite having to deal with volatility in the global economy and in the diamond industry in general, NDTC says it remains excited about the future of the Namibian diamond industry and is more than ever committed to fulfilling its mandate of extracting the maximum value from local diamonds for Namibia.


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Source: AllAfrica


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