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Diamonds trading pays dividends

Shihaleni Ndjaba, (centre) CEO of the Diamond Trading Company officiated at the landmark event where N$110 million in dividends were paid to its shareholder, the government of Namibia. Minister of Mines and Energy, Hon. Isak Katali (left) received the cheques on behalf of the government. Making sure the funds are properly presented is Festus Mbandeka Chairperson of the NDTC Board of Directors.

Shihaleni Ndjaba, (centre) CEO of the Diamond Trading Company officiated at the landmark event where N$110 million in dividends were paid to its shareholder, the government of Namibia. Minister of Mines and Energy, Hon. Isak Katali (left) received the cheques on behalf of the government. Making sure the funds are properly presented is Festus Mbandeka Chairperson of the NDTC Board of Directors.

The Namibia Diamond Trading Company (NDTC) has paid a N$110 million dividend to the government. NDTC CEO Shihaleni Ndjaba handed two cheques of N$70 million for dividends declared in December 2012 and another of N$40 million for dividends declared at the end of February 2013, to the Minister of Mines and Energy, Hon. Isak Katali. The dividends ceremony took place earlier in March.
Receiving the cheques, Katali said. “These dividends we are receiving today are indeed testimony that the creation of the NDTC a few years back was a masterstroke. As the engine behind the beneficiation of our diamond resources the NDTC has been and continues to do some great work that is fuelling job creation, skills transfer, technology transfer and helping us to fulfil our NDP4 and Vision 2030 goals. So far 1200 direct jobs have been created and with it another 3600 indirect jobs. And it must be noted that were it not for the global economic challenges, these numbers would be double what they are now”.
On his part, NDTC CEO, Shihaleni Ndjaba noted that “The global economic environment continues to be unstable, hence affecting the diamond industry as well. The markets are slowly picking up, and we continue to hope for a steady recovery.” Dividends paid to the government in the 2012 financial year amounts to N$ 110 million with another N$40 million in February 2013.
Since its inception in 2007, NDTC has paid N$920 million to its two shareholders, the government and De Beers.

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