De Beers applauds African efforts

The De Beers Family of Companies has turned the spotlight on African ability to turn natural resources into national wealth. In its recent repot - 2007 Report to Society, the company has explained the progress made by the region through facts, statistics and philosophies.

It has also cited its contribution to the region's sustainable development stating in the report that: payments to partners, joint ventures and suppliers amounted to $4.9 billion; 100 percent of De Beers diamonds are conflict-free, it has improved in the lost-time injury frequency rate as also the lost-time injury severity rate; $19 million was spent on social investment allotted to more than 750 projects, more than 185,000 hectares of owned and managed property has been set aside as nature reserves where biodiversity research is conducted.

Apart from its report, De Beers Group Managing Director Gareth Penny said in a speech to the Council on Foreign Relations in Washington, D.C., that De Beers had gained eight insights from operating in Africa. These include: support small companies to develop by outsourcing the supply chain, commitment towards building a citizen-run operation and supporting international efforts to eliminate corruption and support good governance. He applauded the efforts of Africans by declaring that the notion of 'Africa working' is helping build positivity in working in Africa, a region which holds many challenges. Africans are now making efforts to move above poverty and leverage their nation to sustainable prosperity, he added.