New diamond cutting firm opens shop

Mokaila with the De Beers and KGK officials at the launch of the diamond company
Mokaila with the De Beers and KGK officials at the launch of the diamond company

Indian diamond cutting and polishing firm, KGK Diamonds officially opened shop in Gaborone last week, marking a refreshing shot in the arm for an industry bruised by the ongoing turmoil in the international commodities markets.

With a staff compliment of 90, KGK will cut and polish diamonds worth an average $1.5 million every month.

Officially opening KGK’s factory, which is situated at Gaborone’s Diamond Technology Park, the Minister of Minerals, Energy and Water Resources, Kitso Mokaila said the opening of the factory bears testimony of the strong long-term fundamentals of the diamond industry.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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