ODC banks on Dubai expo
Okavango Diamond Company ( ODC) anticipates to tap into the Dubai Multi Commodities Centre ( DMCC) and to leverage on Dubai’s diamond gateway to attract a large number of diamond investors and buyers.
In its first exhibition at the DMCC, ODC will have the opportunity to access over 1000 domestic and international precious stones companies conducting business at the heart of the region’s diamond trade.
Minister of Mineral Resources, Green Technology and Energy Security, Lefoko Moagi said Botswana will get maximum exposure in the UAE culminating to increased visit, not only for diamond trading but also for our pristine tourism offering and other emerging business opportunities. He said the country aspires to stimulate economic growth through value addition and beneficiation of natural resources, and is committed to attract global investors, including from the UAE, to participate within the diamond value chain and other key sectors. “These key sectors include transport and logistics which is critical for linking us with the rest of the world and the promotion of our other natural resource being the flora and fauna in our beautiful landscape.”
Moagi said Botswana would like to take some key valuable lessons from United Arab Emirates ( UAE), in weaning itself off natural resources and in striving to build a diversified and more resilient economy. “Not only do we wish to manage surviving in these unprecedented times, but we desire to also thrive. We hope that the impact of this endeavour will be realised, not only in growing Botswana’s diamond network, but more importantly in bringing investment and trade in other sectors to Botswana.” He said the Ministry aims to position Botswana as a global leader in the provision of services in the mineral and energy sectors for national prosperity. Since establishment in 2013, ODC has grown to be the fifth largest rough diamond trader in the world. It offers international customers access to a full range of rough diamonds, sourced from Debswana, worth about US$ 500 million per annum. For his part, during the Cocktail Dinner at DMCC ODC Managing Director, Mmetla Masire said as one of the largest producer countries of diamonds by value, Botswana was hit hard as the global minerals sales declined due to the pandemic. “With the aviation sector being crippled because of international restrictions and reduced passenger demand, we, like many in the industry, experienced a drop in revenue, given the cancellations of several of our sales and given the difficult year that the global industry has experienced.” He said ODC is always looking for new ideas and ways to do things better hence recognising the important role the DMCC/ DDE should fulfil in achieving ODC’s vision to be a world leader in the sales and marketing of natural diamonds. “We are excited by the journey ahead and feel privileged to have the DMCC/ DDE play a part in this important phase in the development of ODC and the Botswana’s diamond industry.” Masire further emphasised that ODC recognises the importance of partnerships, not only with customers, but also with service providers. “Working together with the right partners, who share our values and goals, is critical if we are to build the reputation and standing that we seek in the global market.”