Editor’s Note
This article highlights a strategic investment by Finestar Diamonds and Jewellery in a new manufacturing facility within South Africa’s OR Tambo Special Economic Zone. The development underscores the role of SEZs in attracting foreign direct investment and boosting local manufacturing capacity through targeted incentives.
Finestar Diamonds and Jewellery has opened a new diamond manufacturing facility in Johannesburg, South Africa. The new facility is located in the Jewellery Manufacturing Precinct within the OR Tambo Special Economic Zone (SEZ), a development near the OR Tambo International Airport. The purpose of the SEZ is to attract investment, boost manufacturing, and grow the economy. It offers benefits such as VAT exemptions and infrastructure that eases operational and financial challenges for manufacturers.
The move is a step toward advancing South Africa’s beneficiation goals, said the company, which are focused on strengthening local diamond processing and creating employment opportunities.
Since entering South Africa in 2022, Finestar said it has created 46 jobs, more than half of which are held by women. It aims to employ 90 people in total. Finestar has also rolled out training programs, with 22 employees currently learning multiple stages of the diamond polishing and planning process.
The company held a launch event in September, and senior government officials, industry leaders, and dignitaries, including representatives from the South African government, the Indian High Commission, De Beers, and the State Diamond Trader, were among those in attendance. Finestar was founded in 1995. The manufacturer, a De Beers Sightholder and Rio Tinto Select Diamantaire, is known for its emphasis on traceability, sustainability, and community-focused initiatives. The company operates manufacturing facilities around the world, including in India, Botswana, and Namibia.