Schachter-Namdar, an Israeli-owned diamond cutting and polishing company, has opened a U.S.$1 million factory in Namibia. The factory began operations in July, with 30 Namibians and the numbers have grown to 60 till date. During the opening ceremony, Schachter-Namdar received a membership certificate from Team Namibia.

Schachter-Namdar plans to invest in training the local people in polishing stoneswith the help of a South African . The company intends to double the employee count in the next 18 months.

Schachter-Namdar is the first cutting facility to open since the Namibian Diamond Trading Company (NDTC) and the Government signed a joint venture. It has diamond manufacturing units in New York, Bangkok, Tel Aviv, Botswana, China and South Africa. In South Africa, Schachter-Namdar pioneered the branding of African diamonds with the Proudly South African brand. Its diamonds are sold under the Proudly South African, the Brilliant Rose, and the Forevermark brands.