Pretoria – The Borobala Diamond Cutting and Polishing cooperation has thanked the North West Department of Finance, Economy and Enterprise Development and the Council for Scientific and Industrial Research (CSIR) for helping them to assess the functionality of its cooperation.
The North West Provincial Legislature’s Portfolio Committee on Premier, Treasury and Enterprise Development on Wednesday applauded the department on its assistance of the 12 member cooperative that is aimed at economic development and job creation.
The cooperation was funded by the department at a budget of R6 613 806 in the 2013 financial year, while the CSIR was contracted to conduct a feasibility study, develop and implement a business plan and establish a sustainable enterprise.
The cooperation purchases rough uncut diamonds from the State Diamond Trader, cuts and polishes them before certification and sells them to jewellery manufacturers.
According to the provincial legislature, the project has created six direct jobs.
CSIR enterprise development specialist Siphokazi Mhlana said some of the challenges faced by Borobala include marketing opportunities and low sales volumes of polished diamonds.
General Manager of the cooperative, Gosebelwang Mmamolao, said among the challenges faced is that the cooperative often misses crucial rough diamonds on the market due to late payment.
The acting Committee Chairperson Gordon Kegakilwe said the project has an opportunity to grow and the main challenges need urgent attention from the department and CSIR. - SAnews.gov.za
