Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

25 october 2021

Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

National Bank of Angola opens forex trading platform to diamond firms

26 may 2020
Image credit: AhmadArdity (Pixabay)

The National Bank of Angola (BNA) is set to open the foreign currency trading platform (FXGO) to diamond companies, according to local media reports.
The FXGO platform, which was contracted to Bloomberg, had since end of March been utilised by 23 banks as well as eight companies in the oil sector.
Apart from diamond companies, BNA also wants the national treasury and large companies with foreign currency purchase needs, such as air navigation companies, to access the FXGO platform.
“Once the above mentioned entities have joined the FXGO platform, the conditions will be met for the National Bank of Angola to stop conducting foreign currency sales auctions, intervening only in the foreign exchange market through said platform, buying or selling foreign currency…for the purpose of strengthening or reducing international reserves or adjusting the exchange rate,” BNA was quoted as saying by Ver Angola.
The FXGO platform allows real-time trading between foreign currency sellers and buyers, with exchange rates freely negotiated between the parties.  

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