Namdia more than doubles revenue despite Covid-19 pandemic

Namib Desert Diamonds (Namdia) boosted its revenue by 120% despite the COVID-19 pandemic, according to local media reports. 
No figures were, however, provided and it was not clear, which reporting period registered the revenue growth.
“It is amazing, but I do not know whether it is innovation, luck or both,” Namdia chief executive Kennedy Hamutenya was quoted as saying by The Namibian. 
“That is what happened, until today, I am telling you we had our best sales ever. This is our record-breaking year. We broke our record by more than 120%.”
He said they managed to sell their diamonds remotely as a result of the travelling restrictions.
“When Covid-19 hit us, we went for three months without selling a single stone. It was very difficult for us for a number of reasons – clients couldn't come in, logistical lockdowns, and people were scared to travel,” Hamutenya said.
“After three months, we found a working formula, where clients said they know that Namibian diamonds are beautiful, they know our quality and they trust us, hence, they suggested we put our diamonds in a box and deliver them.”
Namdia reported last November that it only conducted six rough diamond sales totalling 144,967 carats at an average of $494.75 per carat, during the 2020/2021 financial year.
This saw the diamond marketing and sales company reporting 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.
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