Dubai Diamond Exchange announces appointment of Honourable Isak Katali to its Board of Directors
20/03/2014 3:05 pm EDT


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The Dubai Diamond Exchange (DDE), a DMCC platform, has further expanded its Board of Directors with the appointment of Hon. Isak Katali, Minister of Mines and Energy of the Republic of Namibia.

Ahmed Bin Sulayem, Executive Chairman, DMCC, said, “The Dubai Diamond Exchange is committed to enhancing Dubai’s position as an attractive rough and polished diamond trading hub for all key global players. The Honourable Minister Katali’s years of experience and insight are a welcome addition to the exchange’s board. As we increasingly look towards Africa, his presence will help us to solidify collaboration between producing countries and consuming countries in Asia, along the New Silk Route.”

Upon his appointment, Hon. Isak Katali, Minister of Mines and Energy of the Republic of Namibia commented, “On behalf of the Republic of Namibia, I feel privileged to be part of the success story of the DDE. The DDE is the first diamond exchange to formally recognise the importance of the African producers and I look forward to bringing a unique perspective in order to strengthen the global diamond trade.”

Honourable Minister Katali was appointed as a non-voting member of the National Assembly (NA) in 2000, and was immediately appointed Deputy Minister of Lands, Resettlement and Rehabilitation. He also served as Regional Secretary of the Namibia National Teachers Union (Nantu) as well as Deputy National Research Coordinator for Southern Africa Consortium for Monitoring Educational Quality among other positions.

Today Africa accounts for 61% of the world’s diamond production by value and 56% by volume (carats). In Namibia, 2012 production was approximately 1.63 million carats ($901m).

Peter Meeus, Chairman of the Board of Directors of DDE, added, “A true, rounded understanding of the global diamond industry is essential to drive growth and achieve our goals. Through experienced leadership and advisors, we have solidified the Dubai Diamond Exchange’s truly global status in the diamond trade and look forward to more experts joining our team.”

Recently the DDE also appointed the Hon. Prof. Francis Pedzana Gudyanga, Permanent Secretary of the Ministry of Mines and Mining Development of the Republic of Zimbabwe, Mr. Levy Rapoo, CEO of the South African Diamond and Precious Metals Regulator (SADPMR) and Dr. Robert Mhlanga, Chairman of Mbada Diamonds (Pvt) Limited.

Established in 2004, DDE is a member of the World Federation of Diamond Bourses (WFDB) and a keen supporter of the WFDB in all its initiatives. As the UAE is a signatory to the Kimberley Process Certification Scheme, which ensures that all rough diamonds imported to and exported from the country have been mined in a legitimate matter, the Dubai Diamond Exchange fully complies with the Kimberley Process.

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