Thursday, November 7, 2013

African board members appointed by Dubai Diamond Exchange

The Dubai Diamond Exchange (DDE), a subsidiary of Dubai Multi Commodities Centre (DMCC), has further expanded its board of directors with the appointment of South African Diamond and Precious Metals Regulator (SADPMR) CEO Levy Rapoo and Zimbabwe Ministry of Mines and Mining Development permanent secretary Professor Francis Pedzana Gudyanga.
As SADPMR CEO, Rapoo was entrusted with a mandate of regulating the downstream of diamonds and precious metals on behalf of the country, playing a key role in rendering an advisory service to South Africa’s Mineral Resources Minister Susan Shabangu on matters pertaining to the Kimberley Process (KP), diamonds, as well as gold and platinum.
Gudyanga, who was appointed permanent secretary of Science and Technology Development in 2007 and was recently reassigned as permanent secretary of Mines and Mining Development in September, had been extensively involved in the broader issues of science and technology and higher education in Zimbabwe and beyond.

DDE chairperson Peter Meeus said in a statement on Thursday that the prominence of high-profile industry executives on the board of the DDE reflected the organisation’s global status in the diamond trade.
DMCC executive chairperson Ahmed bin Sulayem added that the DDE had gained global recognition and was ranked among the world's top three market places for rough diamonds.
“We are well positioned to cater for the trading needs of producing countries in Africa [and] the consuming countries in Asia along, what we call, the new silk route,” he commented.

Established in 2004, the DDE is a member of the World Federation of Diamond Bourses (WFDB) and a keen supporter of the WFDB in all its initiatives.

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