Mmegi

Diamond cutting, polishing firms seek gov’t help

Friday, February 16, 2024 | 2960 Views |

Challenging times: Diamond cutting and polishing firms have appealed to government for help PIC: MORERI SEJAKGOMO

The country’s diamond-cutting and polishing firms have asked government for a wage subsidy and exemption from the training levy as they fight for survival in a diamond slump, which has seen some factories fail to reopen after the festive season break.

By the last count, the country had 48 diamond cutting and polishing firms, most of which are clients of De Beers from whom they are under contract to purchase rough diamonds in 10 sales events each year.

However, with diamond prices and demand slumping to pre-COVID lows last year, the firms have found themselves stuck with costly inventory, unable to offload it to the retail market, while under pressure from overheads, including bank credit.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

botswana diamonds

news paper Savanna Tanks Partners with John Luke & Sons for Major Water Tank Installation at USD120 Million Tobacco Factory in Harare.docx

Savanna Tanks Sets New Record with Africa's Largest GS Ground Tank

Staff Writer | 1d ago

BDP orders re-run in three constituencies

Sharon Mathala | 1d ago

BCP sends ‘Mmannana’ for a second chance

Spira Tlhankane | 1d ago

Zebras in Mauritania to kick-start campaign

Larona Makhaiza | 1d ago

Mthimkhulu: The intellect from the kasi

Staff Writer | 1d ago

Masuge to get P25, 000 for Paralympics effort

Calistus Kolantsho | 1d ago

Did she or did she not?

Sharon Mathala | 2d ago

'Angry' boyfriend stabs girlfriend

Pini Bothoko | 03 Sep 2024

We should care more for our infrastructure, road safety

These roads, which are vital conduits for trade and tourism, have long been in dire need of repair. However, while this development is undoubtedly a positive step, it also raises questions about broader issues of infrastructural management and road safety that deserve closer scrutiny.The A3 and A33 roads are not just any roads, they are critical arteries that connect Botswana to its neighbours and facilitate the movement of goods and people...

Mmegi Editor | 30 August 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More