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KGK jewellery enters US market

01 Jun 2023

As Botswana continues to position herself as a global diamond trading centre, KGK Jewellery Botswana has exported its first ever diamond consignment to the United States of America under the African Growth and Opportunity Act (AGOA) agreement.

Speaking during a media tour of the jewellery manufacturing facility in Gaborone on Tuesday, KGK Botswana business development manager, Mr Siddarth Gothi said the exportation was a milestone achievement that needed to be celebrated.

Mr Gothi said the US was a primary target market for diamond exports and that it was a P900 billion (US$70 billion) jewellery industry. A Special Economic Zone Agency (SEZA) led initiative, the diamond consignment was shipped to New York on March 24. 

“The global jewellery market size is US$340 billion whilst the US makes up around P900 billion, so this clearly shows the potential of the global jewellery market,” he said.

Aligning itself with the government’s vision of making Botswana a jewellery destination, Mr Gothi said KGK was proud to play an instrumental role in setting a strong foundation for the jewellery industry in the country.

For her part, US Embassy deputy chief of mission, Ms Amanda Jacobsen said the KGK shipment was an exciting milestone which further deepened the great relations between the two countries. 

“Partnerships on diamonds between Botswana and USA runs deep as many of you know that Botswana is the highest value producer of diamonds in the world,” she said.

Ms Jacobsen said around 50 per cent of polished diamonds entered the US consumer market, and that her government was proud to strengthen the partnership even further. 

She also said the US government was pleased to support Botswana’s bid to host the Kimberly process secretariat from the onset as the country continued to be a model for mining governance. “On behalf of the US embassy, we would like to congratulate KGK and the Botswana diamond sector and look forward to more AGOA shipments to come,” she said.

KGK Jewellery Botswana is a subsidiary of KGK Botswana and was officially launched early this year by President Dr Mokgweetsi Masisi. ENDS

Source : BOPA

Author : Taboka Ngwako

Location : GABORONE

Event : Media Tour

Date : 01 Jun 2023