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DDE Appoints African Producer Representatives to the Board

Nov 7, 2013 4:05 AM   By Deena Taylor
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RAPAPORT... The Dubai Diamond Exchange (DDE), a subsidiary of Dubai Multi Commodities Centre (DMCC), appointed Levy Rapoo, and Francis Pedzana Gudyanga to its board of directors.

Rapoo  serves as CEO of the South African Diamond and Precious Metals Regulator (SADPMR) and is responsible for regulating the flow of diamonds and precious metals from South Africa. He will also play a key advisory role to Suasan Shabangu, South Africa's Minister of Mineral Resources on matters pertaining to the Kimberley Process, diamonds as well as gold and platinum.

Gudyanga was appointed as permanent secretary of Zimbabwe's Ministry of Mines and Mining Development in September 2013 and replaced Prince Mupazviriho, who also served on DDE's board. Gudyanga was formerly the permanent secretary of Science and Technology Development.

"The prominence of high profile industry executives on the DDE’s board of directors reflects our truly global status in the diamond trade,” said Peter Meeus, the chairman of DDE's board of directors.

Ahmed bin Sulayem, the executive chairman of DMCC, stressed that the DDE is well positioned to cater to African producing countries that want to trade through Dubai in order to satisfy demand coming from Asia.

Africa accounts for 61 percent of the world’s diamond production by value and 56 percent by volume according to DDE. On his appointment, Rapoo noted that the DDE is the first diamond exchange to formalize the importance of African producers.

Tags: DDE, Deena Taylor, diamonds, DMCC, gold, platinum
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