WINDHOEK- The Namibia Diamond Trading Company (NDTC), yesterday paid N$100 million dividends to Government bringing the total paid out this year to its sole shareholder, a staggering N$704 million.
Minister of Mines and Energy Isak Katali speaking at the cheque handover ceremony, said the latest payment was an indication that the NDTC was growing at a tremendous rate attributable to the significant increased in diamond production at Namdeb.
Katali said diamonds still remain the biggest contributing mineral to the Namibian economy through royalties and taxes paid.
He said the creation of NDTC was a catalyst for diamond beneficiation in the country, adding “government and NDTC continue to engage in good faith negotiations with the goal to ensure that more value is added to our diamonds and to create a viable and sustainable diamond beneficiation sector.”
He said progress had been made in accessing the need to create additional cutting and polishing factories and for the NDTC to increase the supply of rough diamonds locally to ensure increased job creation and skills transfer to the young people.
At the moment Namibia has eleven diamond and polishing factories that employ 1 000 people.
By Fifi Rhodes