From Creamer Media in Johannesburg, this is the Real Economy Report.
Global diamond manufacturer and trader Pluczenik Diamond Company has made a re-entry into the South African market by partnering with a local entrepreneur to open a diamond cutting and polishing facility in Bedfordview. Marleny Arnoldi attended the launch.
The partnership between Pluczenik and Nungu Diamonds founder Kealeboga Pule resulted from an enterprise development programme of diamond miner De Beers. Pluczenik is one of the largest buyers of rough diamonds globally and has been a De Beers sightholder for more than 60 years.
Pule, who will now serve as the MD for Pluczenik South Africa, says a partnership between a small business owner and a corporate group is not just good for the diamond industry, but for the whole of South Africa, allowing previously disadvantaged individuals to be active participants in the trade from mine to market.
He discusses how many jobs have been created, which includes international cutting and polishing experts who will help train local people.
Pluczenik South Africa MD Kealeboga Pule:
Pluczenik was initially established in South Africa in 1948, before migrating its headquarters to Belgium a few decades later. It also has diamond cutting and polishing facilities in Namibia, Botswana and Lesotho.
Pluczenik CEO Chaim Pluczenik unpacks the reason for the group’s confidence in re-entering the South African market and hopes for the factory to expand.
Pluczenik CEO Chaim Pluczenik:
Meanwhile, De Beers will continue to support the partnership through the supply of raw diamonds. De Beers global sightholder sales executive VP Paul Rowly says the partnership between Pule and Pluczenik speaks to sustainability.
De Beers global sightholder sales executive VP Paul Rowley:
Since Pluczenik is based in Belgium, a new factory opening elsewhere helps to support diamond sales in Antwerp, the diamond trading capital of the world.
Belgium Ambassador to South Africa Didier Vanderhasselt comments on the significance of the partnership between the countries in terms of trade.
Belgium Ambassador to South Africa Didier Vanderhasselt:
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy. Don’t forget to listen to the audio version of our Engineering News daily email newsletter.