Four months on from the historic “Luanda Accord” signed in Angola, the diamond sector grapples with unfulfilled promises. This pivotal agreement brought together African producers, Indian trade bodies, Belgian leaders, and UAE hubs in a united front to fund an African-led global marketing push for natural diamonds. Signatories pledged one percent of rough export revenues—exceeding US$100 million—to the Natural Diamond Council (NDC), with goals to educate consumers on authenticity, emotional resonance, and community benefits.
Angola committed US$8 million, matched by De Beers, to differentiate natural gems from lab-grown counterparts. The campaign would emphasise diamonds' vital role: constructing schools in Botswana, hospitals in Angola, and supporting artisans from Surat to Johannesburg.
Yet, in an open letter, chairman of the Antwerp World Diamond Centre (AWDC) Isi Morsel and vice chairman Ravi Bhansali expressed dismay: "The agreements are signed. The budgets are pledged. Yet implementation has stalled. The funds have not been transferred. The campaign has not begun. And the clock is ticking."
As the global gifting season approaches, the delay endangers livelihoods and credibility. NDC CEO David Kellie stated Angola's contributions are imminent, with nations finalising mechanisms. However, AWDC calls on all parties including producers, NDC, and global partners to release funds and launch the initiative promptly. （Photo courtesy: NDC）
27-10-2025
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