Mogae Wants Diamond Skills Transfer

By Wanetsha Mosinyi
Staff Writer | Monday February 11, 2008 00:00

'We expect all licence holders to pursue aggressive training programmes to develop high levels of competence within a reasonable time frame among Batswana.' Mogae said this when officially opening the Steinmetz Diamonds Group polishing factory last Thursday at the Diamond Technology Park. He said Steinmetz and other sightholders had embraced the aspirations of the country to develop what is to be known as the Diamond Technology Park where all activities involving diamonds will take place. 'This company, because of its faith and belief in the development of the diamond manufacturing industry of Botswana, did not hesitate but invested more than US$9 million (about P58.4 million) in building a factory which will accommodate a workforce of 220 at full capacity.'

The company currently employs 50 people. The Steinmetz Diamond Group had shown that it shares the values of Vision 2016 with Botswana by creating employment for Batswana and transferring skills and knowledge of the diamond industry to them. 'Many Batswana benefit not only directly but also indirectly from this kind of gesture.' Mogae said due to the shortage of rough diamonds, prices had been increasing, causing uncertainties in the rough markets and dependence on supply from existing major producers such as Botswana, Russia, Canada and Australia. As a result of the scarcity of rough supply there was a shift from the traditional cutting and polishing centres of India and China to the sources of rough diamonds today. 'Rough supply, is perceived as the main determinant of where investors should set up their manufacturing facilities and Botswana has a comparative advantage in the fact that she is the largest producer of gem diamonds,' the President said.

'Companies with long-term vision like the Steinmetz Diamond Group have discovered that and have positioned themselves well for this change.' The Steinmetz Diamond Group is a multi-national diamond company spanning activities ranging from rough diamond sourcing, trading and marketing, diamond manufacturing and cutting, polished sales and marketing, as well as jewellery creation and retail. The group was established in 1947 its with headquarters in Geneva, Switzerland and has a presence in major diamond markets like the US, Israel, Belgium, India, China, South Africa, Namibia and now Botswana.