De Beers’ Pat Dambe on how the diamond industry’s shifting ecosystem presents opportunities for Africa’s youth

The diamond industry is undergoing a transformation, presenting new opportunities for Africa's youth and women. At the De Beers Group Diamond Conference, Pat Dambe, Vice-President of Corporate Affairs and Government Relations, discussed how the industry's ecosystem is evolving and how this evolution is creating pathways for young people and women to thrive. The conference, which began five years ago with 80 participants, has grown significantly, attracting over 1,200 delegates this year. This growth reflects the industry's desire to engage in meaningful discussions about the future of diamonds. One of the key themes of the conference was the need for increased participation of producing countries in the entire value chain of the diamond industry. Dambe highlighted the success story of M'mojuite Maasisi, the President of Baudsona, who moved the company's headquarters from London to the source of the diamonds. This move opened up opportunities for countries to explore the midstream and downstream aspects of the industry, beyond just mining and production. By involving producing countries more closely in the ecosystem, new skills, technologies, and job opportunities are emerging, particularly for young people. This shift towards inclusivity and collaboration is essential for the industry's sustainability and growth. Dambe emphasized the importance of protecting the finite resource of diamonds and maximizing their value through responsible sourcing and commercialization. As a valuable product created by nature, diamonds must be handled with care to ensure their long-term sustainability. One significant aspect of the industry's evolution is the increasing role of women. Dambe noted that the diamond industry is a 'woman's industry,' with opportunities for women across various sectors, from mining to retail. The industry is witnessing a movement towards gender parity, with more women entering leadership roles and contributing to the industry's success. Women are excelling in traditionally male-dominated fields like engineering and sorting, bringing a unique perspective and skill set to the industry. The push for gender diversity is not just about equality but also about recognizing the valuable contributions that women can make to the diamond industry. Overall, the transformation of the diamond industry in Africa is paving the way for a more inclusive, diverse, and sustainable future. By involving producing countries, empowering young people, and promoting gender diversity, the industry is embracing change and setting the stage for continued growth and innovation.