SEZA facilitates KGK Diamonds jewelley plant set up
Pauline Dikuelo | Tuesday January 31, 2023 06:00
Headquartered in Hong Kong with over 15,000 employees worldwide, the company currently operates in Botswana as a diamond cutting and polishing company.
It also has a training institute that specialises in diamond cutting and polishing. SEZA Director of Investor Facilitation and Relations, Neo Mahube said the company is now diversifying its portfolio in Botswana by setting up a state-of-the-art jewellery manufacturing plant in Block 3 Industrial.
KGK Jewelry intends to produce 100% of the jewellery for the international market, targeting the US by taking advantage of the Africa Growth and Opportunity Act (AGOA) as well as exporting into the sub-Saharan market, through the African Continental Free Trade Agreement (AfCFTA).
“The manufacturing plant has been licensed by SEZA as a Single Factory Zone. All its production will be reserved for the international market, targeting the United States by taking advantage of AGOA, as well as exporting into AfCFTA,” she said. The plant will manufacture for mass production of jewellery made out of 9carat/18 carat silver studded with diamonds.
The products will include necklaces, bangles, cufflinks, tie-pins, broaches, hair pins and watches. The company will also provide jewellery resizing, repair and maintenance services.
In a bid to support government diversify the tourism industry by introducing fashion-tourism as well as assist in reducing the jewellery import bill, where permitted or required, the company will supply up to a maximum of 20% of the jewelry, through the SSKIA-based Forever Mark store. The plant is expected to create 100 jobs out of which 89% of them are Batswana and will have spill over opportunities that will create backward and forward business linkages such as opportunities for local jewellery artists to create bespoke designs and other opportunities for local companies along the diamond jewellery manufacturing value chain.
KGK Diamonds Botswana is a sole supplier of the diamond jewellery to this boutique diamond jewellery store and has sold, to date, jewellery worth over US$250,000.
The jewellery sold is mostly manufactured in the various KGK factories around the world, however, using the Botswana diamonds. Through the setup of the KGK Jewelry in Botswana, the jewelry production process for the store will be localised, with the Botswana polished diamonds still being used. The KGK International Group is amongst the world renowned companies operating in the diamond industry. It is known for sourcing, manufacturing and distribution of diamonds and jewellery.