In a significant move towards enhancing the inclusivity and sustainability of South Africa's diamond industry, De Beers Group has opened applications for its flagship business development programme aimed at nurturing local entrepreneurs in the diamond and jewellery sector.
Launched in 2016 in partnership with Raizcorp, this initiative is more than just a training programme; it represents a transformative vision aligned with the South African government’s strategic goals for the industry.
Richard Steenkamp, Senior Sales and Office Manager at De Beers Sightholder Sales South Africa, said, “As South Africa’s oldest mining company and part of Anglo American’s operations in the country, De Beers is dedicated to leading the transformation of the local diamond industry toward greater inclusivity and sustainability.”
This vision takes root in the belief that fostering entrepreneurship is crucial for driving economic growth and creating jobs in the region.
The programme, a key pillar of De Beers’ Beneficiation Strategy, focuses on empowering ambitious entrepreneurs with essential business skills, mentoring them to build sustainable and profitable enterprises over a three-year period.
Successful participants will receive extensive training and one-on-one mentorship from experienced business leaders, specifically tailored to the needs of diamond beneficiators, jewellery designers, manufacturers, and retailers.
Steenkamp further said, “One of our programme’s primary goals is to support the development of entrepreneurs who could one day become successful De Beers Sightholders.”
This exclusive designation is reserved for a select group of the world’s leading diamantaires, which allows them to purchase De Beers’ rough diamonds through its global sales and auctions.
Reflecting progress in the programme's effectiveness, 2023 witnessed the appointment of De Beers' first black-owned Sightholder, a proud graduate of the inaugural cohort from 2016.
This milestone underscores the potential of this development programme to transform not just individual lives but the entire industry landscape.
Entrepreneurs who meet specific eligibility criteria are encouraged to apply; however, preference will be granted to those whose businesses have been operational for more than 18 months.
The closing date for applications is 31 October 2024.
Prospective applicants must comply with all requirements, including obtaining licencing from the South African Diamond and Precious Metals Regulator (SADPMR).
Steenkamp said, “This programme is a significant investment in the future of the sector and the broader South African economy.”
By facilitating the growth and success of local entrepreneurs, De Beers continues its legacy of commitment to the industry, proving that dedication to innovation and transformation can indeed pave the way for a more inclusive future.
BUSINESS REPORT