State-owned Namib Desert Diamonds (NAMDIA) only conducted six rough diamond sales totalling 144,967 carats at an average of $494.75 per carat, during the 2020/2021 financial year, according to the local media.
New Era reports that the diamond marketing and sales company reported an 86% drop in full-year group profit after tax for the financial year to N$13.3 million compared to N$95.2 million, a year earlier.
“Rough diamond sales were adversely affected by lockdowns and travel restrictions due to the COVID-19 pandemic, delaying the shipping of rough diamonds into cutting and trading centres and preventing buyers from attending sales events,” NAMDIA was quoted as saying.
The company said it paid N$43.5 million to the ministry of finance during the period under consideration.
This comprised of N$32.2 million in income tax and N$11.3 million in the export levy, while N$40 million was declared as dividends to Windhoek.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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