• Namibia becomes party to Luanda Agreement alongside Angola, Botswana, and DRC

• Initiative aims to counter rising competition from lab-grown diamonds

• Natural diamonds accounted for 14.7 % of Namibia’s exports in 2024

Namibia has joined the Luanda Agreement, an informal initiative created to promote the image of natural diamonds among consumers worldwide.

In addition to Angola, which hosted the founding meeting in Luanda in June 2025, the group’s founding members include Botswana, the Democratic Republic of Congo, De Beers, and industry organizations such as India’s GJEPC and Belgium’s AWDC.

“Natural diamonds have helped shape Namibia’s economic story for more than a century, creating jobs, supporting communities and contributing directly to national development. By joining the Luanda Accord, Namibia is affirming that producing countries have both a stake and a responsibility in telling the true story of natural diamonds,” said Namibia’s Minister of Mines, Modestus Amutse.

The signing comes at a sensitive time for diamond-producing countries, which are facing growing competition from synthetic diamonds. Often perceived by some consumers as more ethical, lab-grown diamonds are increasingly favored over mined stones, which can be associated with human rights abuses or environmental damage.

This shift has contributed to a sharp decline in demand and prices for natural diamonds, forcing countries such as Botswana, where diamonds are central to the economy, to cut production in recent years. In Namibia, diamonds accounted for 14.7 % of total exports in 2024 and 3.4 % of gross domestic product, according to the Chamber of Mines.

Implementation of the Luanda Agreement is overseen by the Natural Diamond Council (NDC), an organization dedicated to educating consumers about the value of natural diamonds and their positive impact. The project’s budget, which includes advertising campaigns, has not been disclosed. The agreement provides that 1 % of annual revenues from rough diamond sales will be allocated to its funding.

De Beers plans an initial contribution of $8 million. Endiama and Sodiam, Angola’s two state-owned companies responsible for diamond production and marketing, have also committed to initial contributions of $8 million each.

Emiliano Tossou