BusinessBusiness, Other sectors




Cameroon joins association of diamond producing African countries

Cameroon has been admitted into the association of diamond producing countries in Africa. The country’s membership was accepted during the…

Cameroon has been admitted into the association of diamond producing countries in Africa. The country’s membership was accepted during the fifth council meeting of ministers of the association which took place from April 4-5 in Guinea Conakry.

The African Diamond Producers Association (ADPA) is an intergovernmental organization that seeks to strengthen the level of influence African diamond-producing countries have on the world diamond market. It is however not the first international diamond management organisation Cameroon is joining.

The country joined the Kimberley Process in August 2012 for certification of diamonds before exportation. The initiative is aimed at fighting against the ‘blood diamonds’ phenomenon, better yet, the smuggling of conflict diamonds.

It was expected that the admission of Cameroon into the Kimberley Process would improve transparency in the exploitation of Cameroon’s diamond. But Cameroon’s diamond estimates continue to be a regular subject of controversy between public authorities and exploration and exploitation companies.

The real income from the diamond trade is also always debated due to the fact that much of it is sold through informal channels, sources say. According to the local permanent secretariat of the Kimberly Process, 73.4 million FCFA was paid into Cameroon’s national treasury in various taxes, with production rising to 6,000 carats in 2015; twice as much as 2014 records.

Cameroon is also a member of the Extractive industries initiatives which ensures transparency in the management of extractive industries. It also ensures that income generated from the exploitation of oil, diamonds, and other extractive industries should be used to develop communities from which the minerals are exploited.

Follow the live information on our channel