A Kimberly-based Northern Cape diamond and jewellery manufacturing company that aspires to enter the export market hopes to shine brightly and capture attention at Africa’s premier trade exhibition in Durban this month.
Momo Mega Empire, which trades as T3 Diamonds, is one of the more than 80 South African companies supported by government to showcase their products and services at the second edition of the Intra-African Trade Fair (IATF) that will take place from 15-21 November 2021.
More than a thousand companies from across Africa are expected to exhibit their products at the trade fair, and thousands of visitors are expected to pass through the turnstiles of Inkosi Albert Luthuli International Convention Centre to see the best of what the continent has to offer.
T3’s participation has been made possible by the Department of Trade, Industry and Competition (the dtic) through its Export Marketing Investment Assistance (EMIA) Scheme whose objective is to develop export markets for South African products and services, and to recruit new foreign direct investment into South Africa.
The owner of T3 Diamonds, Mr Tshepo Molusi says the trade fair could not have come at a more opportune time as his company is in the process of expanding and has set its sights on entering the export market starting in the continent.
“We are looking forward to the exhibition where we hope to network extensively with the aim of catching the attention of dealers and businesspeople that can assist us to export our products to other African countries. We are a small and new diamond cutting and polishing company established only two years ago, but we are happy that we are registering a steady growth. We are incubated at the Kimberley Jewellery Incubation Centre supported by Small Enterprise Development Agency (Seda) but we are in the process of acquiring our own space through the assistance of the provincial economic development department as part of our expansion plans,” says Molusi.
He adds that in addition to exhibiting his products in Durban, he will also be actively networking with producers and buyers of diamonds and learning more about market access and export opportunities available in the rest of Africa.
Molusi possesses qualifications in Diamond Evaluating, Cutting and Polishing from the Kimberley Diamonds and Jewellery Academy, as well a Diamond Laboratory Grading certificate from the Gemological Institute of America. Three people are employed at his company.
According to the Deputy Minister of Trade, Industry and Competition, Ms Nomalungelo Gina, government financially supports Small and Medium Enterprises (SMEs) in particular, to participate in international exhibitions such as the IATF201 as part of its efforts to promote industrialisation, exports, job creation and economic growth.
“Companies that manage to successfully find a market for their products in different countries will be obliged to increase their production of goods that they will export to service the new markets. Increasing production means that more people will be employed and investment will be made in the machinery required to increase production,” adds Gina.
“And the products exported will increase foreign revenue for the country. Above all, African companies clinching deals at the IATF and thereafter starting to trade with each other, will go a long way in achieving what the trade fair is all about, which is increasing the intra-African trade in line with the objectives of the African Continental Free Trade Area (AfCFTA) agreement.”