AWDC says Antwerp is strong partner for growth in Zimbabwe

Ari Epstein delivered a strong message of support for long-term growth at the ZimAsset Awareness Seminar
AWDC says Antwerp is strong partner for growth in Zimbabwe

Ari Epstein, CEO of the Antwerp World Diamond Centre (AWDC) delivered a strong message of support for long-term growth at the ZimAsset Awareness Seminar, a Parliamentary Hearing on the future economic development of Zimbabwe, held in Harare. Invited by Parliament, Epstein shed more light on why the world’s leading diamond trade centre continues to be a committed partner for sustainable development growth of Zimbabwe’s diamond industry. Elaborating on the success of the recent diamond tenders of Marange goods in Antwerp, he demonstrated how Zimbabwe can generate tens of millions U.S. dollars in additional revenues by tendering rough diamonds in Antwerp.

Mr. Epstein highlighted how Antwerp has kept its promises to Zimbabwe, by acting in line with the EU objectives of long-term inclusive economic development after the lifting of the EU sanctions that prohibited trade of Marange diamonds in Antwerp. In addition and following the actual lifting of the sanctions in September 2013, Antwerp vouched it could guarantee higher and transparent revenues for the Zimbabwean Government through the marketing of Marange diamonds in this leading diamond hub.

Results from the recent tenders held in Antwerp have demonstrated the immense buying power and benefits the world’s leading diamond-trading platform has to offer. Performance zoomed past expectations, as on average, the sales in Antwerp generated prices that were 30 percent above the producing companies’ expectations and an astonishing 50 to 60 percent higher than prices fetched in Zimbabwe and other diamond centers.

He also revealed that for the first time in four years, a transparent and appropriate return on investment for the government has been achieved. Prior to trading in Antwerp, Marange goods were sold in Zimbabwe, but also in other diamond centers, at an average price of $47 per carat, resulting in an average return on investment for the Zimbabwean treasury of $7.05 per carat.

In contrast goods are sold in Antwerp for an average price of $80 per carat or $12 per carat in royalties for the Treasury. If all sales were to go through Antwerp, Zimbabwe would gain more than $400 million in extra revenues, resulting in an increase of $60 million of royalties per year.

Mr. Epstein emphasized that the AWDC is ready to increase its commitment to Zimbabwe. “We have created a break-through by opening up the market for Marange goods and creating real added value in a fully transparent manner. We are now willing and able to help Zimbabwe to develop further, by sharing our expertise and knowledge on how the country can yield more benefits from its resources.” The AWDC presented a draft Memorandum of Understanding to the Government in order to embark on a joint long term relationship where technical assistance, knowledge transfer and common value creation are key.


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