The Dubai Diamond Exchange (DDE) has appointed Mbada Diamonds chairperson Robert Mhlanga to its board.
The appointment followed two other appointees last year.
These were Zimbabwe's permanent secretary of Mines and Mining Development Francis Gudyanga and the chief executive of the South African Diamond and Precious Metals Regulator (SADPMR), Levy Rapoo.
“The prominence of high profile industry executives on the DDE’s board of directors reflects our truly global status in the diamond trade,” said DDE chairperson Peter Meeus.
The Dubai Multi-Commodities Centre (DMCC) executive chairperson Ahmed Sulayem said the DDE had gained global recognition and was currently ranked among the world's top three market places for rough diamonds.
“With prominent industry executives on the board of directors, we are confident of enhancing Dubai's strength as an attractive diamond trading hub,” he said.
“We are well positioned to cater for those producing countries in Africa to trade through to the consuming countries in Asia along what we call the New Silk Route.”
Mbada Diamonds is a joint venture between Zimbabwe Mining Development Corporation (ZMDC), through Marange Resources and New Reclamation through Grandwell Holdings. Mbada Diamonds had produced 22.4 million carats of rough diamonds to date and recorded revenue of more than $1 billion, according to DDE.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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