taShi Shiimi-ya-Shiimi is widely and rightly known as the 1st Namibian diamantaire. As Founder / Managing Director of TaTe, his primary focus is centred on growing and diversifying TaTe Group’s portfolio.
The company’s current holdings span a wide array of industries and include interests in the following sectors like diamond: Rough Trading & Manufacturing, Oil & Gas, and Real Estate.
Armed with an undergraduate degree in Accounting and Finance, as well as an MBA - specialising in Strategic Planning from the USA, taShi Shiimi-ya-Shiimi worked for 3 Fortune 500 companies before venturing into the entrepreneurial world.
Here, in an exclusive Interview with Rough&Polished, taShi Shiimi-ya-Shiimi spells out his goals for TaTe Diamonds, which he aims to grow into a fully integrated diamond company, right from mining to retail.
Some excerpts:
Many regard you as the 1st Namibian diamantaire. Can you please give us a brief background on who taShi Shiimi-ya-Shiimi is?
That is very humbling to hear, Aruna. I am deeply passionate about diamonds and the magical bond people around the globe share with these beautiful gifts from mother earth.
I was born and raised in Windhoek, Namibia when Namibia was under Apartheid South African rule. Like all black Namibians residing in Windhoek at the time, I lived in the black township called Katutura; specifically, in a neighbourhood called Donkerhoek (the name translates to “dark corner” as this part of Katutura had no streetlights at the time). Outdoor toilets, cold water showers, and dusty unpaved roads were the norm in Donkerhoek.
I was fortunate enough to attend St. Paul’s College, a private school, as part of the 1st group of black Namibians to be integrated into previously “Whites Only” schools.
After high school, I moved to the United States where I completed my undergraduate and master’s degrees and worked for 3 Fortune 500 companies, before venturing into the entrepreneurial world.
The combination of my parents’ unconditional love, support, and guidance, coupled with the harsh reality of Apartheid ensured I developed a strong and indomitable spirit of resilience and perseverance regardless of the hardship or obstacles in my life.
Can you tell us more about why you are regarded as the 1st Namibian diamantaire and how TaTe Diamonds came about?
Historically diamond producer countries have not produced indigenous diamond companies due to the extremely high barriers to entry. Having entered the diamond industry over a decade ago and owning several companies has been a bumpy but fulfilling journey.
My continued success in the industry can be attributed to many factors, including the progressive economic environment fostered by the government of the Republic of Namibia. I am the product of hard work by many stakeholders who have and continue to support me along this journey.
As you know, I founded TaTe Diamonds in 2015, with the goal of building a vertically integrated Namibian-owned diamond company and competing on a global scale.
I have worked tirelessly to establish TaTe Diamonds as a globally recognizable brand in the diamond industry and am happy to say we have made some major strides in this regard. I have been fortunate to develop a strong network of diamantaires stretching from Surat, Dubai, New York, Belgium, Angola, Botswana, and South Africa, over the years. Essentially in all major global diamond centres. I am blessed to have gained many mentors along the way and formed profound relationships with some prominent industry leaders in these global centres.
What are the latest developments at TaTe Diamonds since our last meeting during the Covid pandemic?
Despite the global shutdown, we managed to make some strides on our journey albeit not at the same pace as we had planned.
At our last meeting, TaTe Diamonds had just been selected as the only Namibian-owned diamond company to be selected as a NAMDIA Client. I am humbled and happy to share that our NAMDIA Client status was renewed in 2022 for another 3-4 years. We are grateful and humbled by this continuous partnership with NAMDIA.
As you know, NAMDIA only sells unaggregated Namibian rough diamonds which ensures that TaTe continues to work with only Namibian-mined natural rough diamonds.
NDTC Sightholder Journey: One of the hallmarks of being a globally respected diamond company is to secure the status of being a De Beers Sightholder. This has been part of our goal and deeply embedded in our long-term strategy.
As of 01 January 2023, TaTe Diamonds was selected by the Namibia Diamond Trading Company (NDTC) as a client under its newly launched Enterprise Development Program (EDP).
This honour and privilege is a metamorphic milestone for us as it puts us much closer to achieving Sightholder status. Achieving this goal without the assistance of a foreign partner is a remarkable achievement for Namibia and hopefully an inspiration for young Namibian entrepreneurs endeavouring to enter the diamond industry.
Can you shed some light on the NDTC’s new Enterprise Development Program (EDP)?
Allow me to first applaud the Honorable Minister of Mines & Energy, Mr Tom Alweendo, under whose tenure this transformative program was launched. The NDTC Board and its visionary Chief Executive, Mr Brent Eiseb, are equally to be applauded for the launch and implementation of this program. TaTe Diamonds continues to be humbled by the selection and are committed to fulfilling our part in making this program a success.
This 18-month program was designed to offer Namibian-owned companies that have demonstrated broad industry experience, and technical and financial capabilities a development path towards becoming a De Beers Sightholder.
Under this program, TaTe Diamonds has secured an allocation of Namibian unaggregated rough diamonds which we view and purchase during Sight Week alongside NDTC Sightholders.
TaTe Diamonds has thus secured, by virtue of being a client of NDTC and a continuing NAMDIA client, a secured a constant supply of the most sought-after rough diamonds globally, which is instrumental in building a successful integrated diamond company.
Our focus has now shifted towards optimizing our cutting & polishing factory operations by investing in new equipment and building a formidable production team. The EDP program requires us to process (cut and polish) the majority of our rough diamonds locally; which is also in line with our provenance philosophy of “diamonds from mine to finger in Namibian hands”.
Have there been any developments on the jewellery front and distribution network?
Yes, this is a very exciting part of our journey. In 2022, we established a new company, TaTe Jewels, in Atlanta, GA, USA. This will serve as our distribution arm for both loose polished diamonds as well as diamond jewellery in the American market.
The distribution side of the business is obviously a segment in which we have limited experience but remain confident and optimistic that we will find a path to success.
Let’s just say we are working towards something very exciting in Atlanta in the next few months…specifically around single polished diamonds and jewellery pieces.
That sounds like a lot of challenges for a relatively young company. What are some of the challenges you are facing?
Sure, it is definitely not a walk in the park but our vision of being the 1st Namibian-owned vertically integrated diamond company keeps us laser focused. This industry is incredibly capital intensive with limited funding channels from commercial banks. As such, one is constantly challenged with being creative and explore new capital funding avenues.
What are your thoughts on the protracted negotiations between De Beers and the Botswana government?
I think Botswana’s move to acquire a 24% stake in HB Antwerp; the establishment of NAMDIA in Namibia; and the creation of the NDTC EDP program; are all manifestations of a current trend sweeping throughout the African continent.
Our leaders are looking at ways to extract more value from our natural resources and increase indigenous participation in the companies involved in our natural resources. I don’t have any insight on the Botswana – De Beers negotiations but from a macro level, I anticipate Namibia and other producer countries to follow suit.
What has your experience been working with partners from other countries?
As I mentioned earlier, I have been blessed with meeting many diamantaires over the years and developing profound mentorship relationships with some of the largest companies in the industry. There are 2 families in particular whom I constantly engage with for guidance and advice on my journey.
As is the case with many businesses, TaTe has not been spared of having negative experiences with international partners. Fortunately, we have managed to part ways with incompatible partners and continue unabatedly on our journey.
We continue to embrace strategic partners from all over the world and look forward to collaborating in an equitable and sustainable manner as we grow our business.
What are the plans for TaTe Diamonds given your recent milestone of being selected for the NDTC EDP program?
Our goal is to successfully complete the EDP program and work towards achieving Sightholder status in the shortest time possible. This is an integral step for us to continue the successful development of our distribution channel and reach our ultimate goal of being a fully integrated diamond company of indigenous origin.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
