After two years of Covid-19 pandemic disruptions, Namib Desert Diamond (Namdia) navigated the negative impact as it performed well during the 2021/22 financial year. The company recorded profit after tax of N$144.7 million compared to N$13.3 million the previous year, while recording N$218 million profit before tax. Also, a record dividend declaration of N$150 million was presented to the shareholder, Namibian government.
These figures were shared yesterday at the launch of Namdia’s annual report, that indicated Namdia also conducted 10 sales for the year under review.
Furthermore, the diamond company purchased 222 978 carats, representing an increase of 53.8% compared to the previous year. The report stipulated sales revenue increased by 78.7% to US$128 million as well as 36 new clients selected for the 2022/23 to 2025/26 financial years.
Meanwhile, Namdia’s newly appointed CEO, Alisa Amupolo, weighed in: “It is a privilege to be associated with the diamond industry, the vanguard of our economy and that which will continue to serve as a catalyst for economic and social development through beneficiation.”
Amupolo also noted that going forward, Namdia will embark on modifying and differentiating demand for Namibian diamonds and engaging global and domestic markets to strengthen the country’s global market share.
Namdia, she said, will expand the horizon in fulfilling its mandate of price discovery, a mechanism she revealed still has a lot to be accomplished.
Launching the report and declaring the record dividend, board chair, Bryan Eiseb, said it remains vital to ensure local beneficiation to create jobs for Namibians and to help fight escalating unemployment in the country.
“Is one thing to declare dividends but is another to ensure we develop skills and become competitive in the global labour market,” noted Eiseb.
Receiving the dividend, deputy finance minister, Maureen Hinda-Mbuende, said innovation and collaboration ignite the economy to flourish and government has been at the forefront of stimulating these drivers, as enablers to social progression and arresting social and economic inequalities.
“The declaration proves that the institution remains on an upward trajectory and is setting a sterling example for other commercial public enterprises,” said the deputy minister.