Using its hands-on experience to adapt for greater impact, diamond miner De Beers’ Beneficiation Programme continues to put in the ‘hard yards’ to transform the diamond space through sustainable small businesses.
Initially focused on developing small enterprises who cut and polish diamonds, this three year incubation initiative is today working with emerging players in manufacturing, jewellery and retail. The demanding journey towards commercial sustainability is built on each business finding the right strategic vision and value proposition. The programme carefully selects five small enterprises to participate, and the emphasis throughout the programme is the importance of value addition. This means understanding where the entrepreneurs can differentiate themselves, and bring something special to the market to realise their diamond dream.
The second cohort of the programme began in 2020, and includes a jewellery manufacturing and refinery business as well as jewellery designers and retailers. In some cases, cutters and polishers in the group have broadened their offering into their own jewellery lines. One diamond trader even developed a niche in the education of diamond buyers. This training focus suited their specific skills, as the owners had been part of the De Beers-sponsored Kimberley International Diamond and Jewellery Academy.
Like diamonds, every entrepreneur in the programme is unique. The De Beers Beneficiation Programme gives them the support and guidance to find the market opportunities through which to grow. In another innovative choice, one of the participants in the cutting and polishing trade has matched her interest in art with her work in diamonds. Her engagement with artists and art studios will lead to art pieces being curated that speak to the diamond story.
A vital contribution of this initiative is to introduce participants to vital networks that will facilitate both collaboration and trade, giving them a valuable ecosystem in which to thrive.