Dubai Diamond Exchange launches ‘Develop Africa’ initiative
The Dubai Diamond Exchange (DDE) has launched “Develop Africa,” an initiative that promotes development in the diamond-producing countries of Africa. The two-week intensive professional training programme, which takes place at the DDE, will enable industry officials from Africa to enhance their skills and, in turn, support the growth of the diamond industry in their home countries.
Established and regulated by Dubai Multi Commodities Centre Authority (DMCCA), the DDE is the world’s first diamond bourse to launch such a programme for the benefit of the African diamond mining industry. This training programme focuses on developing skills of the five candidates – who hail from Ghana, Liberia and Sierra Leone – in the identification, evaluation and certification of diamonds.
Set up in coordination with the Kimberley Process Certification Scheme (KPCS), “Develop Africa” assists diamond-producing countries to maximise the benefits from their natural resources and enables them to use the revenue generated to support the country’s development.
“Diamond producing countries in Africa are home to some of the most valuable natural resources in the world, and DDE is pleased to launch ‘Develop Africa’ in recognition of the international call to support comprehensive development in the these countries,” said Ahmed bin Sulayem, Deputy Chairman, DDE and Chief Operating Officer of the Dubai Multi Commodities Centre. “This initiative is representative of Dubai’s commitment to development initiatives related to the diamond industry,” he added.
Ms Noora Jamsheer, Chief Executive Officer of DDE said: “Develop Africa” has a threefold objective which includes the development of human resources, setting up the physical infrastructure required for the growth of the industry and encouraging Foreign Direct Investment (FDI) inflows into the African diamond producing countries. The initiative aims to empower nationals from these countries thereby enabling them to participate more in the global diamond trade and take greater control over their own economic destiny.”
Organised by DDE, the program builds on the Kimberly Process Certification Scheme, which is the first step in stopping the flow of conflict diamonds to the market, and encourages the development of the industry’s human resources and infrastructure.
Jamsheer pointed to the example of countries like Botswana, which have benefited greatly from KP certification and used the revenues earned from diamond trading to benefit such vital sectors as education and healthcare.
Currently under United Nations sanctions, Liberia plans to begin trading in diamonds, when sanctions will be lifted. In addition to training two Liberian candidates, Corvah Baysah and Jerome Wotorson, “Develop Africa” will also strengthen Liberia’s diamond industry infrastructure, by extending support to equipping the Liberian Government Diamond Office.
Other candidates in “Develop Africa” include Henri Osei and Ms. Euphemia Sylvia Awo, from Ghana, and Mohamed Jabie from Sierra Leone.
About the Dubai Diamond Exchange (DDE):
The DDE is a member of the World Federation of Diamond Bourses, enabling members access to international member exchanges. DDE capitalizes on the rapidly growing trade flow of diamonds through the region and was established with the primary objective of promoting regional trade and global accessibility for local, regional and international diamond marketing participants. DDE, a Dubai Multi Commodities Centre, and Dubai government initiative, rated 'A' by Standard & Poor's, promotes and strictly adheres to the Kimberley Process Certification Scheme. Its members represent global players from New York, Antwerp, South Africa, Mumbai, the UAE and other international centres.
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