The Real Price of Diamonds
It seems that Naomi Campbell is discovering that diamond ownership can come at a high price.
It is estimated that 4% of the world’s diamond trade is in blood diamonds, which have cost the lives of around 4 million people. Meanwhile, global diamond sales continue to grow and have increased three-fold in the past 25 years. Each year in excess of US$72 billion worth are purchased. A symbol of religion, wealth and love, the diamond is also one of the world’s major natural resources.
An estimated US$13 billion worth of rough diamonds are produced per year, with Africa being the key player producing around 65% of the world’s supply worth US$8.5 billion.
African diamond revenue is crucial to the transformation of southern Africa and the lives of its people. Trade contributes approximately US$8.5 billion a year to Africa and is helping the continent to improve its economy, health and education systems as well as boosting employment.
Meet The Boss met with Neil De Beer Secretary General, OABD (Organization for African Business Development) to find out how the African Union are fighting for an environment where investors and business can thrive in a unified Africa.
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