De Beers Announces That Molefi Letsiki Diamonds Will Become First Majority Black-Owned Sightholder

Molefi Letsiki is the chairman of the South African Diamond Dealers Club, executive committee member of The World Federation of Diamond Bourses and one of the founding members of Young Diamantaires. He is also the co-founder and former president of the South African Young Diamond Beneficiators Guild which aims to achieve increased diamond beneficiation of African produced rough diamonds, and ambassador of World Diamond Council systems of warranties. Effective January 1, 2023, Molefi Letsiki Diamonds will be the first majority black-owned business to achieve DeBeer’s coveted Sightholder status.
A second generation diamantaire whose father worked as a diamond master cutter for over three decades Letsiki’s diamond experiences furtherer culminated in his becoming an alumnus of the De Beers Enterprise Development Project for Diamond Beneficiators launched in 2016 to facilitate the growth and transformation of diamond beneficiation in South Africa. He established his diamond and custom-made jewellery manufacturing business in 2005, and 17 years later, Molefi Letsiki Diamonds is a global diamond dealer employing 15 people in its South African operation.

“I am overjoyed by the opportunity afforded to me by De Beers Group. The progression of moving from a small diamond business to achieving Sightholder status has long been an aspiration for Molefi Letsiki Diamonds. I would like to express my gratitude to the De Beers team for the support they have given me through the Enterprise Development Programme,” said Letsiki.
Through its Enterprise Development Project for Diamond Beneficiators, De Beers will continue to develop young beneficiators with the aim to appoint an increasing number of young black beneficiators as Sightholders in the future.

IG: @ molefiletsiki

Source: Mining Review Africa
Photo Credit: Molefi Letsiki Diamonds | Tirisano