The Real Value of Diamonds in Namibia

Even the President of Namibia has acknowledged the importance of diamonds in their country and in the lives of its people. These sparkling stones are the backbone of their economy. In fact, the diamond industry is contributing over 30 percent of the income of the country from foreign exchange every year.

But how does the diamond industry helps Namibia and its people? Let’s take a look from the perspective of Namdeb, Namibia’s biggest taxpayer and mining institution.

1. Uplifting working and living conditions

Namibians aren’t only treated as mere diamond diggers or miners. They’re also trained on how to become diamond cutters and polishers. This is to ensure that they will be able to have much better jobs. Moreover, Namibia fully supports the business spirit of its people through projects that allow them to be self-sustaining and generate their own income. The programs introduced by the company even extend to those who are physically disadvantaged. They introduced the BEE initiative, which offers overall financial and moral support for these people so they can return to the economic mainstream.

2. Fostering education

Namdeb established the Oranjemnund School, where people—from children to school—will be provided with proper education. There are teachers and tutors who educate children and adults on how to speak in English and Afrikaan. Music is also integrated in their educational system through music teachers and establishment of the school choir.

3. Promoting health care

The revenues that the country has got from diamonds were used to establish their maternity clinic as well as to help them fight AIDS.
Other articles of interest:

•  Loose Diamonds and National Economies
• The Internet and the Growth of the Wholesale Loose Diamond Market
• Diamond Education in South Africa Flourishing