Hamutenya supports stricter distinction between natural and lab-grown diamonds
From Future Media News · 0:37
Show by Namibia Future Media
Botswana President Duma Boko has called for reserving the word "diamond" for natural stones, giving lab-grown alternatives a separate name to protect the regional industry. He likened the proposal to France's protection of the name "Champagne". Former Namdia CEO Kennedy Hamutenya has meanwhile supported the proposal, warning that consumers are increasingly confused between natural and synthetic diamonds. The debate comes as Namibia faces declining diamond revenues. Finance Minister Ericah Shafudah's mid-year budget review projects a N$5.3 billion drop in government revenue from diamond taxes and royalties over the medium term. Future Media News Podcasts Webpage
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