The Angolan state-owned diamond company, Endiama has agreed with the Angola/United Arab Emirates Chamber of Commerce and Industry (CCIA-UAE) to market the southern African country’s diamond industry in the Middle-East country.
Xinhua quoted Endiama chief executive Jose Ganga Junior as saying that the agreement also seeks to attract investments for the diamond company through the Annual Investment Meeting, an initiative of the UAE Ministry of Economy for global investors.
CCIA-UAE president Braulio Mohamed Martins said Endiama will have more visibility in UAE.
Endiama recorded a loss of $400 million from its 2020 operations due to the COVID-19 pandemic.
Angola had initially targeted to produce diamonds worth $1.4 billion last year.
Endiama produced 7.5 million carats last year against an initial target of 10.5 million carats.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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