Finestar Diamonds and Jewellery has expanded its Southern African footprint with the opening of a diamond manufacturing facility at the Jewellery Manufacturing Precinct within the OR Tambo Special Economic Zone in Johannesburg.
Launch Attendance
The launch, attended by senior government officials, industry leaders, and dignitaries including representatives from the South African government, the Indian High Commission, De Beers, and the State Diamond Trader, marks another milestone for Finestar after establishing factories in Botswana (2020) and Namibia (2022).
Investment Impact
The investment strengthens South Africa’s beneficiation agenda, advancing local diamond processing, job creation, and skills development. Since entering South Africa in 2022, Finestar has created 46 jobs—over half of which are held by women—and aims to employ 90 people in total. The company has also rolled out training programs, with 22 employees currently learning multiple stages of the diamond polishing and planning process.
Government Highlights
Government officials highlighted the significance of local beneficiation in driving economic diversification, industrialization, and inclusive growth. The Special Economic Zone (SEZ) was credited for providing a supportive framework, including VAT exemptions and infrastructure that ease operational and financial challenges for manufacturers.
Finestar Executives
Finestar executives underscored that the new facility reflects a deliberate growth strategy leveraging the SEZ’s ecosystem to scale operations and expand investment. They positioned the move as a commitment not only to polishing diamonds but also to unlocking broader opportunities across the jewellery value chain and empowering local communities.
Global Presence
The South African factory adds to Finestar’s global manufacturing presence, which includes facilities in India, Botswana, and Namibia. The group, a De Beers Sightholder and Rio Tinto Select Diamantaire, is known for its emphasis on traceability, sustainability, and community-focused initiatives.
Nilesh Chhabria Quote
In conclusion, Nilesh Chhabria, Chief Operating Officer at Finestar commented “When properly supported, beneficiation is not just about polishing diamonds, it is about unearthing/unleashing potential. Finestar’s decision to locate within the Jewellery Manufacturing Precinct at the Special Economic Zone is a deliberate growth strategy, leaning on the benefits of a world-class infrastructure, policy support, an enabling environment that fosters collaboration and innovation with our strategic partners and the right ecosystem for scaling operations and doubling current investment. Finestar looks forward to building on South Africa’s proud legacy of diamond excellence while focusing firmly on the opportunities of the present- creating value, empowering people, and shaping a brighter future for all stakeholders in the diamond ecosystem.”
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