Namibia and Angola discuss protecting African diamond industry from synthetic competition

At the Namibia-Angola Bi-National Commission, leaders urged African diamond producers to collaborate on safeguarding natural diamonds against synthetic alternatives and enhancing economic benefits from resources.

During the inaugural Namibia-Angola Bi-National Commission held in Luanda, Angola's President João Lourenço emphasized the need for African diamond-producing countries, including Namibia, to establish joint mechanisms to protect the natural diamond industry from the rising competition posed by synthetic diamonds. He highlighted concerns over synthetic diamonds affecting market prices and quality perceptions, calling for a coordinated African response to safeguard economic interests.

Namibia's Vice President Netumbo Nandi-Ndaitwah stressed the importance of Africa taking greater control over its natural resources to ensure they yield tangible economic benefits for citizens. She noted Namibia's initiatives to add value to its natural resources and reduce reliance on extraction for foreign markets, advocating for resource beneficiation to support domestic resource mobilisation and lessen dependence on international financial systems.