SHAKWA NYAMBE & CO INC’s MANAGING DIRECTOR APPOINTED AS A DIRECTOR TO THE NAMDEB HOLDINGS AND ITS SUBSIDIARIES BOARDS

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Namdeb Board

Shakwa Nyambe, the Managing Director of the law firm Shakwa Nyambe & Co Inc has been appointed by Namibia’s Minister of Mines and Energy as a Director to the NAMDEB Holdings and its subsidiaries Boards. He will serve on the board for a period of three years with effect from the 1st of December 2019. Namdeb Holdings is a 50:50 joint venture between the Government of the Republic of Namibia and De Beers and is the parent company for NAMDEB (land) and Debmarine Namibia (Marine) production.  In 2016, De Beers and the Government of the Republic of Namibia signed a 10-year sales agreement for the sorting, valuing and sales of Namdeb Holdings’ diamonds. The sales agreement is the longest ever signed between the two partners. They will be an increase in rough diamonds made available for beneficiation as a result of the 2016 agreement, with US$430 million of rough diamonds being offered annually to Namibia Diamond Trading Company’s (NDTC) customers. Namdeb Holdings accounts for 20% of Namibia’s foreign currency earnings. Nyambe is delighted to have been appointed to serve on the NAMDEB Holdings Board and brings along a wealth of experience in law, corporate governance, and specialized skills in natural resources and energy.

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