Vol.21 No.133

Tuesday 31 August 2004    

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Business Week
Belgium diamond Firm Turning to Botswana for Expansion


8/31/2004 12:29:35 AM (GMT +2)

In what is increasingly becoming the centre of attention in the diamond industry, Botswana has attracted another Antwerp diamond firm, The Star Diamond Group, which has announced a strategic partnership with Diamond Manufacturing Botswana (DMB), and the establishment of the first diamond polishing plant in Botswana.


Following in the footsteps of Eurostar, which has announced plans to open a polishing plant in Gaborone, Botswana, it is now being joined by Star Diamond, which has started an in-house training program with over 30 trainees recruited in recent weeks. Star-DMB’s workforce will triple to more than 300 in the next 18 months with further expansion planned in the future. Star said over the weekend that it “has commissioned a multi-dimensional development program to maximize expansion of the workforce and factory throughput and to actively pursue downstream commercial activities that add value to Botswana’s diamond and labour resource”.

Philippe Rot, Director of Star Diamond, said that entering Botswana was a significant milestone for a group that was already in Africa, the US, Europe and Asia. During a meeting with President Festus Mogae last Wednesday, the partners said they are considering local branding, jewellery making and marketing of diamond jewellery to local tourists.

Botswana’s other two diamond polishing companies, Schachter & Namdar Botswana in Molepolole and the Diarough Botswana Diamond Polishing Factory in Serowe have also expressed their interest in expanding their activities in the country.

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