By Lesedi Sibiya-Diplomatic Insider
The Luanda Accord holds its Inaugural meeting at the African Mining Indaba
By Lesedi Sibiya-Diplomatic Insider
The Luanda Accord serves as an initiative which requires diamond producers to give 1% of the yearly revenue towards the overall marketing of natural diamonds.
The countries which form part of the Luanda Accord include, Angola, Botswana, Namibia, South Africa, Sierra Leone and the Democratic Republic of Congo as they have merged organizations such as Antwerp World Diamond centre (AWDC), The African Diamond Producers Association (ADPA), De Beers, India’s Gem and Jewellery Export Promotion Council (GJEPC) as well as the Dubai Multi Commodities Centre. Today at the African Mining Indaba, The Luanda accord held its inaugural meeting, discussing some of the progress that has been made through the initiative.
“Despite the current context of the diamond market we firmly believe that the future of natural diamonds is solid and promising and this will only be possible if all market players work together towards the production of natural diamonds. The market needs clarity regarding supply business processes aligned with international based practices and a consistent narrative about the differentiation of natural diamonds which will only be possible if we act together” said Minister of Mineral Resources, Petroleum and Gas for the government of the Republic of Angola, Diamantino Azevedo.
“The diamond industry is not merely an economic engine, it is a powerful catalyst for social development, innovation and national pride across our continent. Africa is the world’s leading producer of natural diamonds accounting for the majority of global production by value and volume. This position confirms both great responsibility and opportunity, placing Africa at the heart of the global diamond value chain and underscoring the imperative for the continent to lead in shaping the future of the industry including how natural diamonds are marketed, valued and perceived globally” said the Minister of Industries, Mines and Energy for the Republic of Namibia, Modestus Amutse as affirming Namibia’s support of the Luanda Accord.
Zambian President Hakainde Hichilema also delivered a keynote speech at the African Mining Indaba as he explained how his government has placed revitalising the mining sector as a top priority for their economic agenda and has praised the Mining Indaba for symbolising transformative partnership for Africa.
“We all have capabilities, endowments, skills and experience. But no single one of us has enough to deliver the total package for our economies” said President Hicilema in his address.
In the meeting the GJEPC as well as the Natural Diamond Council (NDC) had agreed and signed a Memorandum of Understanding that sets out a pathway for GJEPC to become an official NDC member as of 1 May 2026. The agreement constitutes the level and structure of financial contribution, followed by completion of legal and regulatory requirements.
The Dubai Multi Commodities Centre (DMCC) had also signed a letter of intent which affirms their commitment to advancing the mandates of the Luanda Accord which also include them as members of the NDC.
The NDC is a non-profit organization established in order to educate consumers about the rare and responsible values of natural diamonds as well as the impact that the industry has globally. The NDC also provides marketing and educational materials to retailers as well as industry partners in order to affirm their integrity of the natural diamonds.