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IDMA Accepts Namibia as Newest Member

The Diamond Manufacturers Association of Namibia (DiaMAN) will become the 15th member of the International Diamond Manufacturers Association (IDMA), and the third African country with membership in IDMA. The decision was made at the 2009 President's Meeting held in Antwerp last month, according to an announcement by IDMA on Monday.

Namibia's membership signals that its diamond manufacturing abilities are a growing power that is operated under tight control and with ample transparency, said IDMA President Moti Ganz.

"Namibia's membership adds yet another cornerstone to our organization, and by joining South Africa and Botswana, strengthens the African membership within IDMA," Ganz said.

Diamond Trading Company (DTC) in 2007 signed an agreement to supply local manufacturers in Namibia with $300 million worth of diamonds by 2009. A number of DTC Sightholders have opened polishing plants in the country following the agreement creating additional jobs in the local diamonds industry. These extra jobs were the government's goal in what is commonly referred to as 'local beneficiation.'

The two other African nations with IDMA membership are South Africa and Botswana.