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Zimbabwe to open $20m diamond center

Zimbabwe to open $20m diamond center

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Published: 25 December 2012

Zimbabwe – Zimbabwe is about to inaugurate a massive diamond center where multiple activities relating to the diamond industry, from trading to teaching, will take place, Rough and Polished reports.

Construction of the $20 million Zimbabwe Diamond Technology Center in Mount Hampden, near the capital of Harare, has been ongoing for the past two years and is almost complete. The center’s chair Lovemore Kurotwi confirmed that the center will be in use in half a year’s time.

The new facilities have the potential to make a huge contribution to the country’s economy, potentially creating up to 40,000 new jobs on site. The complex will include a diamond processing college and insurance firms, as well as all the functions generally attributed to a diamond trading center.

The center may be a harbinger of prosperity to Zimbabwe, but there are lingering fears that powerful groups with the political and military establishment of the country will take an active role in the center and exploit it for economic and ideological reasons, according to Rough and Polished.


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