Four emerging diamond businesses join transformative programme to drive inclusivity and growth in South Africa’s diamond sector

De Beers Group, in partnership with business incubation specialists Raizcorp, has officially launched the third intake of its Enterprise Development Project for Diamond Beneficiators, welcoming four emerging enterprises into the programme. This milestone reinforces De Beers’ continued commitment to driving for growth, transformation, and inclusivity in South Africa’s diamond beneficiation sector.

First launched in 2016, the three-year programme supports entrepreneurs across the entire diamond value-chain, from rough diamond purchasing, cutting and polishing, to jewellery manufacturing, marketing and distribution. The programme provides a comprehensive suite of support services, including tailored technical, operational, and strategic guidance designed to help businesses scale sustainably and contribute meaningfully to both the local and global diamond economies.

The four businesses which make up the 2025 cohort include Axel & Co., Shine Jewellery & Accessories (Pty) Ltd, Elegânté and House of Lemba Design. These companies, which specialise in jewellery design, manufacturing and repair, were selected from a pool of emerging enterprises identified by stakeholders from across the industry. Each company met the programme’s regulatory and operational criteria, ensuring they are well-positioned to add value within the beneficiation pipeline.

Speaking at the launch of the programme at Raizcorp on 17 April 2025, James Kirby, Senior Vice President of Product Planning and Delivery at De Beers said: “As we launch the third intake of this transformative programme this morning, I am reminded that real, lasting, and inclusive progress is never accidental. It is the product of consistent vision, intentional action, and the collective will to create something greater than ourselves. It requires courage, collaboration, and above all, clarity of purpose. That clarity lives at the heart of our Building Forever Sustainability Strategy – our ongoing commitment to ensuring that the story of diamonds is not only about what is unearthed, but about the long-term positive impact we create well beyond the life of our operations.”

Allon Raiz, CEO of Raizcorp said: “Every big business starts small but not every small business becomes big. Ninety-six per cent of businesses do not scale because they don’t know how. The De Beers programme will ensure that every entrepreneur who participates will be given the know-how and guidance they need to scale their business.”

The selected businesses share a passion for transforming precious metals and gemstones into jewellery of exceptional brilliance and beauty. “For me and my team, the journey we’re embarking on with De Beers and Raizcorp will mean realising our dreams of growing into a self-sustaining business that contributes positively to South Africa’s economy by creating employment and imparting knowledge and skills to fellow South Africans in the jewellery industry,” added Noxolo Mseleku, Founder and Managing Director of Elegânté.

To date, 10 diamond beneficiation companies have benefitted from this ground-breaking project since its inception. Of these, 60% are women-owned and 80% are black-owned. Notably, the programme played a key role in the appointment of De Beer’ first majority black-owned Sightholder in January 2023, Molefi Letsiki Diamonds, an alumnus of the Enterprise Development programme.

The programme continues to represent a powerful example of how effective collaboration between industry, government, and entrepreneurs can unlock the full potential of local beneficiation and contribute to building a more inclusive, resilient diamond economy.