Select Page

NAMDIA declares N$150 million dividend in 2021/22 financial year

NAMDIA declares N$150 million dividend in 2021/22 financial year

Namib Desert Diamonds (NAMDIA) this week declared N$150 million in dividends to its shareholder, the Namibian government.

This was revealed during the announcement of the 2021/22 financial year annual report and dividend declaration.

At the event, it was also highlighted that the company’s profit after tax amounted to N$144.7 million compared to N$13.3 million the previous year.

“After two particularly challenging years shaped by the COVID-19 pandemic, the remarkable recovery of the diamond industry came as a welcome relief. The reporting period saw NAMDIA continuing to improve operational efficiency and refine the business strategy to remain relevant to our customers and shareholder,” said NAMDIA CEO Alisa Amupolo in a statement.

“As we embark on the next 5 years and chart the future, we are looking forward to partnering with a unique and distinctive collection of industry capability that NAMDIA boasts and leveraging on the global reservoir of knowledge through smart partnerships,” she added.

Meanwhile, NAMDIA also posted a sales revenue increase of 78.7% to U.S$ 128 million dollars during

During the period under review, NAMDIA made 10 sales totaling 222,978 carats, an increase of 53.8% compared to the previous year.

According to the report, NAMDIA’s buying average carat price was US$536.55 compared to the selling average carat price of US$574.21.

The Deputy Finance Minister, Maureen Hinda-Mbuende meanwhile, commended NAMDIA’s efforts, stating that “Namibia’s prominence and provenance are being reinforced on the global diamond market and promise to yield more returns and accomplishments as they continue to carve out a footprint in the global value chain”.

Executives and a government official pose for a picture following the declaration of  N$150 million in dividends from NAMDIA to its shareholder, the Namibian government.


About The Author

The Staff Reporter

The staff reporter is the most senior in-house Economist reporter. This designation is frequently used by the editor for articles submitted by third parties, especially businesses, but which had to be rewritten completely. - Ed.