De Beers Group, in partnership with business incubation company Raizcorp, has launched the third intake of the Enterprise Development Project for Diamond Beneficiators, aimed at supporting and developing entrepreneurs in South Africa’s diamond industry.

De Beers, in a media release, said this milestone reinforces its continued commitment to driving 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 buying, 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.

Speaking at the launch on April 17, Raizcorp CEO Allon Raiz pointed out that South African entrepreneurs contribute 34% to the country’s GDP, highlighting that small businesses account for 91% of formal businesses locally.

“We’ve got a lot to grow in terms of what contributions small businesses make to our GDP,” he said, highlighting the importance of having a clear vision, proper strategy and effective execution in entrepreneurship.

During the launch, four emerging enterprises were welcomed into the programme.

The four businesses which make up the 2025 cohort include Axel & Co; Shine Jewellery & Accessories; Elegânté; and House of Lemba Design.

De Beers noted in the media release that these companies, which specialise in jewellery design, manufacture and repair, were selected from a pool of emerging enterprises identified by stakeholders from across the local industry.

De Beers explained that each company met the programme’s regulatory and operational criteria, ensuring they are well-positioned to add value within the beneficiation pipeline.

“The selected businesses share a passion for transforming precious metals and gemstones into jewellery of exceptional brilliance and beauty,” De Beers said in the release.

The company noted that to date ten diamond beneficiation companies have benefited 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 Beers’ first majority black-owned sightholder in January 2023, Molefi Letsiki Diamonds, an alumnus of the Enterprise Development programme.

The company stated that 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.