The launch, attended by senior government officials, industry leaders, and dignitaries including representatives from the South African government, the Indian High Commission, De Beers, and the State Diamond Trader, marks another milestone for Finestar after establishing factories in Botswana (2020) and Namibia (2022).
The investment strengthens South Africa’s beneficiation agenda, advancing local diamond processing, job creation, and skills development. Since entering South Africa in 2022, Finestar has created 46 jobs—over half of which are held by women—and aims to employ 90 people in total. The company has also rolled out training programs, with 22 employees currently learning multiple stages of the diamond polishing and planning process.
Government officials highlighted the significance of local beneficiation in driving economic diversification, industrialization, and inclusive growth. The Special Economic Zone (SEZ) was credited for providing a supportive framework, including VAT exemptions and infrastructure that ease operational and financial challenges for manufacturers.
Finestar executives underscored that the new facility reflects a deliberate growth strategy leveraging the SEZ’s ecosystem to scale operations and expand investment. They positioned the move as a commitment not only to polishing diamonds but also to unlocking broader opportunities across the jewellery value chain and empowering local communities.
The South African factory adds to Finestar’s global manufacturing presence, which includes facilities in India, Botswana, and Namibia. The group, a De Beers Sightholder and Rio Tinto Select Diamantaire, is known for its emphasis on traceability, sustainability, and community-focused initiatives.
