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ANGOLA

Uber-rich Kothari clan hitches its wagon to Lourenço's diamond sector reforms

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“Lourenço's Herculean struggles to reform the diamonds sector”

ANGOLA

Lourenço's Herculean struggles to reform the diamonds sector

Angolan president João Lourenço has made reform of diamond mining one of the key objectives of his mandate, as he tries to end the decades-long hold of the dos Santos clan over the sector. He is betting on the deregulation of diamond sales and the development of diamond-related activities in Angola itself to attract investors and increase state revenues. So far, his efforts have produced little in the way of results. [...]

Vice-chairman of KGK Group Sanjay Kothari. © KGK Group

The wealthy Indian Kothari family, which owns the KGK Group gemstone and jewellery company, is backing João Lourenço's shake-up of the diamond sector. By helping the president with his plan to make Angola more than a mere producer of stones, the Kotharis are counting on better access to the country's output. [...] (459 words)

Published on 18/03/2021 at 05:00 GMT Reading time 2 minutes

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Mining

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ANGOLA
Diamantino Azevedo
João Lourenço
José Eduardo dos Santos
KGK Group
Kothari
Navrattan Kothari
Sandeep Kothari
Sanjay Kothari
Sodiam

Luanda prospects for diamond financing

Buoyed by the opening of Alrosa's second kimberlite mine and Rio Tinto's arrival in the country's diamond sector, the Angolan authorities promoted themselves to international investors at a diamond industry conference in Saurimo.

Angola's Minister of Mines and Petroleum Diamantino Azevedo speaking at the Angola International Diamond Conference on 25 November 2021.

ANGOLA Mining 01/09/2021

Saurimo diamond hub, the showpiece of Lourenço's reforms

Saurimo's new diamond hub, built at top speed, and presented as a key feature of João Lourenço's mining reform programme, comes at a timely moment in the president's electoral calendar, allowing him to score points on several fronts.

INDIA MAURITANIA Diplomacy 20/08/2021

India to open embassy in Nouakchott

For the past few months, India's foreign minister Subrahmanyam Jaishankar has been laying the groundwork for the opening on an embassy in Mauritania in the first half of 2022.

ANGOLA Mining 01/07/2021

Australia's Lucapa struggles to repatriate cash from Lulo diamond sales

The firm, one of the few foreign investors producing diamonds in Angola, has been slow to receive revenues from operations at the Lulo site, known for its impressive gems and its abundance of prized pink diamonds.

BOTSWANA Mining 20/04/2021

Diamond expert Timothy Lee's solo venture in gem evaluation

On 12 April, the company TL Diamond Valuation was registered in Gaborone by sole shareholder Timothy Lee.

ANGOLA Mining 09/04/2021

Big-carat diamonds save the day for Lucapa

Although 2020 was a rough year for the diamond sector as a whole on account of the pandemic, certain producers fared better than others by focusing their efforts on smaller deposits that nevertheless contained larger diamonds.

NAMIBIA Energy Mining 16/03/2021

Former president Nujoma's daughter helps make Elizabeth Bay diamonds go green

The French wind power pioneer InnoVent and the daughter of former president Sam Nujoma have teamed up to build a wind farm to provide power to Namibia's iconic Elizabeth Bay diamond mine. Construction is expected to start soon.

Coutinho Nobre Miguel, dubbed the MPLA's banker. He was the boss of Banco Sol until last year and remains a major shareholder. © Coutinho Nobre Miguel/Facebook

Spotlight

ANGOLA Finance Business 11/03/2021

Banco Sol struggles to shake reputation as MPLA's bank

Thrown back into the limelight by a recent report, Banco Sol's deep and long-standing ties with President João Lourenço's party are weighing heavily on the financial institution's attempts to brand itself as just an ordinary bank.

Spotlight

ANGOLA Diplomacy 08/03/2021

Away from the courtrooms, the government and the dos Santos clan wage a secret war

Already engaged in innumerable court cases and arbitration battles, the smallest details of which are dutifully publicized by their respective PR teams, the family of ex-president dos Santos and the Angolan state are also fighting another less public, much less procedural battle.

ANGOLA Mining 04/03/2021

Endiama struggles to find a suitor for its private security subsidiary Alfa-5

Amid the wave of privatisations initiated by President Lourenço, Angola's national diamond company Endiama is seeking a buyer for its Alfa-5 subsidiary, but the tarnished reputation of the security firm is complicating the task.

ANGOLA Mining 26/02/2021

Politically-minded Antunes Paulo Monteiro moves into diamonds in partnership with powerful Ranque Franque clan

A former MPLA member turned deputy chair of Angola's monarchist party, Antunes Paulo Monteiro has recently set up two mining project management companies. His partners in this business venture are members of the powerful Cabindan Ranque Franque family.

ANGOLA INDIA Mining 16/12/2020

Angola looks to India to loosen Dubai's grip on its diamonds

Angola is turning to India in its search for new markets for its diamonds. Which looks like a win-win situation for both countries, as many diamond dealers in Mumbai are keen to end Dubai's stranglehold on Angolan stones.

Spotlight

ANGOLA UNITED ARAB EMIRATES Mining 11/12/2020

Dubai vies to keep grip on Angolan diamonds

The Dubai Diamond Exchange currently handles 90% of diamonds produced in Angola, and it wants things to stay that way. It is taking steps it hopes will prevent Luanda's mining sector reforms from reducing its market share.

ANGOLA Mining 18/11/2020

Buyers still sought by Luanda for Saurimo hub's diamond cutting facilities

The Saurimo diamond hub, a pillar of President Lourenço's diamond sector reforms, is still on the lookout for international investors to occupy its diamond cutting workshops, currently under construction.

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ANGOLA
Diamantino Azevedo
João Lourenço
José Eduardo dos Santos
KGK Group
Kothari
Navrattan Kothari
Sandeep Kothari
Sanjay Kothari
Sodiam

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Uber-rich Kothari clan hitches its wagon to Lourenço's diamond sector reforms

Lourenço's Herculean struggles to reform the diamonds sector

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

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Set up email notifications for these topics

Luanda prospects for diamond financing

Saurimo diamond hub, the showpiece of Lourenço's reforms

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Australia's Lucapa struggles to repatriate cash from Lulo diamond sales

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Politically-minded Antunes Paulo Monteiro moves into diamonds in partnership with powerful Ranque Franque clan

Angola looks to India to loosen Dubai's grip on its diamonds

Dubai vies to keep grip on Angolan diamonds

Buyers still sought by Luanda for Saurimo hub's diamond cutting facilities

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Uber-rich Kothari clan hitches its wagon to Lourenço's diamond sector reforms

Lourenço's Herculean struggles to reform the diamonds sector

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

Create your free account

create a free account

Set up email notifications for these topics

Luanda prospects for diamond financing

Saurimo diamond hub, the showpiece of Lourenço's reforms

India to open embassy in Nouakchott

Australia's Lucapa struggles to repatriate cash from Lulo diamond sales

Diamond expert Timothy Lee's solo venture in gem evaluation

Big-carat diamonds save the day for Lucapa

Former president Nujoma's daughter helps make Elizabeth Bay diamonds go green

Banco Sol struggles to shake reputation as MPLA's bank

Away from the courtrooms, the government and the dos Santos clan wage a secret war

Endiama struggles to find a suitor for its private security subsidiary Alfa-5

Politically-minded Antunes Paulo Monteiro moves into diamonds in partnership with powerful Ranque Franque clan

Angola looks to India to loosen Dubai's grip on its diamonds

Dubai vies to keep grip on Angolan diamonds

Buyers still sought by Luanda for Saurimo hub's diamond cutting facilities

Set up email notifications for these topics

First visit

Contacts

Tools

Follow us

A website produced by

Indigo Publications also publishes: