New diamond cutting firm opens shop
Tuesday, September 01, 2015
Mokaila with the De Beers and KGK officials at the launch of the diamond company
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.
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...