Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

18 february 2019

Indian gem and jewellery manufacturers have the skill and capabilities to cater to any market in the world

Besides spearheading the “White Paper” last year, Colin Shah, Vice Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) has been actively involved in the initiatives of the Council like MyKYCBank and many more… A first generation...

11 february 2019

The Indian gems and jewellery industry was progressing in the past and will certainly progress in the future

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India, is also the representative of the Gujarat G&J sector at various organisations as well as government authorities...

04 february 2019

The Russian Diamond Line: We do not believe that gifted persons would win through on their own

The Russian Diamond Line, a Moscow international jewellery contest of jewellery design, has been held for a decade already. At the end of the year, the results of the jubilee RDL-2018 contest were summed up, and on December 14, the prizewinners of the...

28 january 2019

New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

21 january 2019

SA company sues Namib Desert Diamonds

12 february 2019

A South African consulting firm, Bravo Compliance, has sued Namib Desert Diamonds for N$2,1 million ($152, 000) for terminating a contract that was meant to help improve the Namibian state-owned diamond trader improve its governance systems.
The Namibian newspaper reports that Namdia had informed Bravo on 1 June 2018 that it had cancelled the contract because it was awarded based on misinterpretation, and that the tender process should start afresh.
However, Bravo was said to have concluded that the contract was terminated after it raised red flags about how Namdia was selling its diamonds to foreign companies.
The company was previously accused of selling Namibian diamonds below value to dealers in Dubai.
It, however, denied the allegations.
Namdia offered Bravo N$400 000 ($29,000) as a settlement for cancelling the contract and the South African consulting rejected the offer.
It then approached the court seeking to get N$2.1 million.
Namdia advertised the tender in January 2018 seeking a private company to establish a system meant to evaluate and improve its risk management, control, compliance and governance processes.
It awarded the contract to Bravo on 22 March 2018.

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