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Angola eyes Antwerp diamond market

07 june 2018
Angolan President João Lourenço, who this week visited Antwerp, Belgium, said his country has been absent from the diamond bourse and he wants that to change.
Angola produced 9 million carats last year worth $1.1 billion, but about 1 percent of that was sold on the Antwerp diamond market, according to the Diamond Loupe.
“It has been said that Angola has been absent from Antwerp, but that is set to change. We are going to be represented in Antwerp, and will work together in partnership,” the Angolan leader was quoted as saying.
He said Angola had not been able to benefit properly from its diamond resources as a result of policies that stifled growth, but wants that to change as well.
Lourenço, who recently replaced long-time ruler Jose Eduardo dos Santos as President, said that he had ordered the state-run diamond companies Endiama and Sodiam to revise their policies to the benefit of the country and private companies.
"The responsible institutions have been instructed to see that Angola can return to this great diamond center," he said.
Lourenço also told Antwerp World Diamond Centre (AWDC) officials that we are, “counting on you to help us transform our industry”.
AWDC chief executive Ari Epstein was also quoted as saying to the Angolan leader that he had, “come to the right place”.
“The critical mass of diamond companies and services here in Antwerp is unparalleled, enabling diamond producers to achieve the best possible price for their goods,” he said.
“… I have every confidence that as you come to learn more about our exceptional value proposition, you will leave Antwerp having no doubt that this is the place that will help you in your effort to further modernise Angola’s diamond industry.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished, from Gaborone, Botswana


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