Ver Angola

Raw Materials

Sodiam's export earnings reach record highs and increase 20.8 percent in 2022

The Sociedade de Comercialização de Diamantes de Angola (Sodiam), responsible for buying and selling diamonds in the country, increased revenues in 2022 to an amount considered “record” by its chairman of the Board of Directors, Eugénio Bravo da Rosa.

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The figures were advanced by the official at the end of a working meeting with the Board of Directors of IGAPE (Institute for Active Management and State Participations).

"In 2022 we reached a record value, the highest to date, in terms of exports, which was US$2 billion and 9.2 million carats exported," he said, in a statement made available to VerAngola.

The gross revenue achieved in 2022 represents an increase of 20.81 percent when compared to 2021, and of three percent in terms of quantities sold. According to Sodiam's PCA, this result was due to the dynamics of the international diamond market, which caused an increase in the average diamond price of 17.29 percent.

During the meeting promoted by IGAPE, within the scope of its attributions, with a view to reinforcing the monitoring of the operational activity of companies in the public business sector, issues related to the need for consolidated accountability and the overcoming of Audit Reserves on the accounts of the company.

"When an external auditor places reservations on the accounts, it means that there may be some uncertainties, and the greater the degree of uncertainty in these accounts, the less reliable the numbers that are there and, there may even be some contingencies due to these unforeseen uncertainties ", underlined the PCA DO IGAPE, Patrício Bicudo Vilar.

As for the implementation of the future Diamond Exchange in Angola, Sodiam's Chairman assured that the matter is being dealt with, so that "in the right time", the date for its start can be communicated.

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