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DDE Announces Appointments To Board Of Directors

November 07 2013
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DUBAI DIAMOND EXCHANGE ANNOUNCES APPOINTMENTS

TO BOARD OF DIRECTORS

 

The Dubai Diamond Exchange (DDE), a subsidiary of Dubai Multi Commodities Centre (DMCC), has further expanded its Board of Directors with the appointment of Mr. Levy Rapoo, CEO of South African Diamond & Precious Metals Regulator (SADPMR) and Prof. Francis Pedzana Gudyanga, the new Permanent Secretary of the Ministry of Mines and Mining Development of the Republic of Zimbabwe.

Peter Meeus, Chairman of the Board of Directors of DDE said: “The prominence of high profile industry executives on the DDE’s Board of Directors reflects our truly global status in the diamond trade.”

Today Africa accounts for 61% of the world’s diamond production by value and 56% by volume (carats).

Upon his appointment, Mr. Levy Rapoo commented: “On behalf of the Republic of South Africa, I feel privileged to be part of the success story of the DDE. We are delighted to join the DDE as it is the first diamond exchange to formalise the importance of the African producers.”

Mr. Levy Rapoo, as the Chief Executive Officer of SADPMR, is entrusted with a mandate of regulating the downstream of diamonds and precious metals on behalf of the country. Levy plays a key role in rendering an advisory service to the Minister of Mineral Resources (Honourable Susan Shabangu) on matters pertaining to KP, diamonds, as well as gold and platinum.

Professor Francis Gudyanga was appointed Permanent Secretary of Science and Technology Development in 2007 and recently reassigned as Permanent Secretary of Mines and Mining Development (September 2013). He has been extensively involved in the broader issues of science and technology and higher education in Zimbabwe and beyond.

Ahmed bin Sulayem, Executive Chairman, DMCC said: "The Dubai Diamond Exchange has gained global recognition and is currently ranked among the world's top three market places for rough diamonds. We are well positioned to cater for those producing countries in Africa to trade through to the consuming countries in Asia along what we call the New Silk Route.”

Established in 2004, DDE is a member of the World Federation of Diamond Bourses (WFDB) and a keen supporter of the WFDB in all its initiatives. As the UAE is a signatory to the Kimberley Process Certification Scheme, which ensures that all rough diamonds imported to and exported from the country have been mined in a legitimate matter, the Dubai Diamond Exchange fully complies with the Kimberley Process.

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