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

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

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

S&P revises Botswana's outlook to 'stable' as diamond sector improves – report

20 september 2021
Ratings agency S&P has revised Botswana’s outlook to 'stable' from 'negative' due to an economic recovery buoyed by a strong diamond sector.
"We expect Botswana's diamond export-dependent economy will rebound by 8.5% in real terms in 2021 because the diamond industry is rebounding from 2020's large pandemic-induced contraction," S&P was quoted as saying by Reuters.
Botswana recently revised its economic growth to 9.7% in 2021 from the previous forecast of 8.8% in February as a result of higher diamond sales coupled with the rebasing of GDP accounts. 
Botswana revised its real GDP accounts base year to 2016 from 2006 to improve the accuracy of its measurement of economic growth.
As a result of the rebasing, last year’s economic contraction was 8.5% instead of 7.9% initially reported, while nominal GDP is now 4.6% lower at $15.5 billion.
Debswana’s rough diamond sales rose 41% in the first half of the year driven by demand from major markets the United States and China.
The company’s rough diamond sales dropped by 30% in 2020 as a result of the COVID-19 pandemic.

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