First Lady applauds NDTC's contribution to the economy

13 Apr 2014 15:00pm
WINDHOEK, 13 APR (NAMPA) - First Lady Penehupifo Pohamba has applauded the Namibia Diamond Trading Company (NDTC) for generating ‘huge’ revenues for the Namibian economy.
“Your work is most appreciated because it complements our government’s efforts to create jobs and gain value addition from its diamond resources. At the same time, you are also promoting one of Namibia's riches natural resources,” Pohamba said.
The First Lady made this remark during her visit to the NDTC offices in the capital on Thursday, adding that the diamond sorting and marketing company is one of the most important companies in the country.
Namibian diamonds contributed N.dollars 2.5 billion in royalties, taxes and dividends to the State Revenue Fund in 2013, and similar levels of contributions are expected in 2014.
Separately, the NDTC contributed N.dollars 120 million in dividends to the State as a result of the local sales of diamonds to local cutting and polishing factories, while the country’s main diamond mining company Namdeb Holdings contributed N.dollars 74 million in dividends.
First Lady Pohamba said the NDTC is important because Namibia has seen an increase in the sales of diamonds to companies that are involved in cutting and polishing diamonds locally, thereby creating a strong brand for the country.
She further praised the company for its hard work and dedication, saying they have put Namibia on the map and the country is now better known for its beautiful and clean diamonds.
“Namibia is now competing at the International diamond market with major companies in Belgium, Israel and India. Let me thank you for your personal commitment and the good quality of work you are producing,” she told the company’s Chief Executive Officer (CEO) Shihaleni Ndjaba and his management team.
NDTC is a 50/50 joint venture between the Namibian Government and the Diamond Trading Company (DTC, which is the mining and sorting arm of De Beers.