GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

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20 september 2021

Platinum’s rare nature gives it additional value and appeal

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13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

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30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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23 august 2021

Namdia CEO faces disciplinary action – report

18 february 2021
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Image credit: Namdia


Namibia's state-owned diamond trading company, Namib Desert Diamonds (Namdia) has confirmed that its chief executive Kennedy Hamutenya is facing disciplinary action over alleged irregularities at the company.
The Namibian quoted Namdia board chairperson Bryan Eiseb as saying that actioned an internal investigation around various irregularities at the company end of last year.
He said the board would implement recommendations, which include the charging of Hamutenya for "a string of violations".
"We have so far appointed the chairperson and the initiator of the disciplinary hearing, but we have not decided on the date yet at this moment," said Eiseb.
The daily alleged, citing unnamed sources, that an amount of N$300 000 in state funds is involved.
Minister of public enterprises Leon Jooste said Hamutenya's disciplinary hearing was being handled by the board.
"This is entirely under the authority of the board and there is no need for the shareholder to get involved," he said.
"This is an internal issue and the board will follow the company's disciplinary procedures as usual."
Hamutenya previously served as Namibia's diamond commissioner before his move to Namdia as the chief executive in 2017.
His contract with Namdia will expire in June 2022.

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