The Namibian newspaper had previously claimed that Namdia sold the country's diamonds for a song to the Arabs who then went on to sell the diamonds at a higher price in the Middle East.
It cited sources claiming that Namdia sold diamonds for US$500 per carat in Windhoek, but the same diamonds were then sold abroad for $2 500 per carat.
The country’s mines minister Obeth Kandjoze dismissed the allegations.
However, this did not stop the ACC to establish whether the diamonds were indeed deliberately underpriced.
“I requested him (Kandjoze) to provide clarity (on Namdia),” ACC director general Paulus Noa was quoted as saying by The Namibian newspaper.
“The minister gave me all the answers I wanted. I am satisfied with the answer.”
Although Noa said he was convinced that nothing fishy took place, the daily cited people “with links” to ACC as saying that the investigation into the new diamond company was still ongoing.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished