Sunday, March 27, 2016

Thelma West: Nigerian lady in male-dominated diamond trade



Nigerian Thelma West is a rare gem in the diamond world as a woman in a male-dominated sector with few Africans, despite the continent being the main source of the precious rocks.
The first in her family to work in diamonds, West is used to being an outsider, having been raised in a Jewish family in a country where Jews number fewer than 50,000 out of a population of around 180 million.
"I'm the only Nigerian Jewish woman in the trade, and I don't know of other African women in the business," the 32-year-old told AFP at her London-based business as she greeted customers with a broad smile and sparkling diamonds on her hands and wrists.
Discretion and security are essential, with the anonymous-looking building guarded by an encrypted intercom system and a reinforced door, all under the gaze of a bank of security cameras.
  
After attending the most prestigious international school in Lagos, West travelled to Britain aged 16 to finish her education.
"I wanted to become an engineer because at that time in Nigeria, you had to choose a solid career, such as doctor, lawyer, engineer," she told AFP.
But, as the saying goes, "Diamonds Are Forever" and the sparkle of the stones, which had captivated West since childhood, was an irresistible allure.
"My mum had loads of jewellery," said the daughter of a Guinness drinks company employee mother and a property developer and industrialist father.
"We were always playing with her jewellery box and she would always clean her jewels, and I would help."
West headed for Antwerp, the world's diamond capital, aged 17 despite "not knowing anybody" in the Belgian city.
There, she enrolled at the internationally renowned Hoge Raad Voor Diamant school to hone her skills.
"Even though you go to school, most of your knowledge comes from working with diamonds day-to-day," she said.
After trying for six months in vain to secure an internship,  was eventually taken under the wing of an Orthodox Jew diamond dealer, who worked with her every evening after school for a year.
She was then recruited by one of the biggest diamond suppliers in Europe based in Spain.
"It was being sent in at the deep end," she recalled. "I was 19 and I was responsible for every single diamond the company had".
Teaming up with school friends from Lagos who had moved into investment banking, West set up her own business in London to trade the precious stone.


Metal tongs in hand, West explained the secrets of some of her stock.
"Diamonds have fire," said West.
"That stone is too flat but it's got a lot of life in it, it was cut about 100 years ago," she said, pointing to one tiny rock.
"This one cost just over £100,000 ($141,000, 126,000 euros), it's got a low colour but it has been cut perfectly so it reflects light in such an amazing way."
Fewer than 50 clients, 12 of whom are investors, have access to West's knowledge.
"I can find a diamond and call them and say 'we have to buy this diamond, trust me' and they follow me," she said.
Her multinational client base -- introduced by word-of-mouth -- includes Swiss, Russians, Ghanaians, Nigerians and "a handful of French".
Helped by a 10-woman team, West creates all of her company's products, which come with a lifetime guarantee. Her most ambitious creation was a custom-made necklace worth around £2 million.
She plans to open a workshop in Nigeria, "where I'll train girls in the art of making jewellery".
West gives little away but also said she is creating "a revolutionary tool" that will help people in her business.
"That tool should be part of every diamond dealer and every shop".

AFP

Monday, March 21, 2016

Obasanjo to speak on diversification of Nigeria's economy in Georgetown University Qatar



Chief Olusegun Obasanjo, former President of Nigeria, will be an honored guest of Georgetown University in Qatar on Tuesday, where he will discuss “Nigeria's evolving transformation,” exploring the challenges and opportunities in the nation’s efforts to diversify its economy. 

The public lecture at the university campus, is open to the public. Obasanjo will pay special attention to instructive insights from Qatar’s own experience of investing natural resource wealth to transition from a hydrocarbon-based economy to a knowledge-based economy. This is with a view to examine what lessons Nigeria can learn from Qatar and what opportunities exist for collaborations

“It is a great honor for Georgetown to host a former head of state of President Obasanjo’s caliber,” said the dean of ​GU-Q, Dr. Gerd Nonneman
"Two themes of enormous importance for the world as well as for us here at Georgetown are the urgency for single-commodity economies to diversify in pursuit of sustainable development; and the building and safeguarding national cohesion in countries of complex ethnic and religious make-up. President Obasanjo's experience and insights into the challenges and opportunities for Nigeria, in such efforts, are extremely valuable for all those concerned with these issues, not least here at Georgetown where our students and professors continuously engage with these questions."

Chief Olusegun Obasanjo served as Nigeria’s military Head of State from 1976 to 1979. Subsequently, he was popularly elected as the President for two consecutive terms from 1999 to 2003 and then from 2003 to 2007. His tenure at the helm of democratic government ushered in a commitment to the rule of law and crucial political reform. 

In 2008, Obasanjo was appointed by the United Nations as a special envoy to mediate in conflict situations around the continent, including in Democratic Republic of Congo, in Zimbabwe and in South Sudan. He is called upon regularly to oversee democratic elections on behalf of the African Union and the Economic Community of West African States in countries across the continent. 

Obasanjo is a member of Club de Madrid, an independent non-profit organization created to promote democracy and change in the international community. Its members are over 100 former democratically elected Presidents and Prime Ministers from more than 60 countries. 

Outside the political arena Mr. Obasanjo has been a catalyst in driving Africa’s economic transformation. The region is now amongst the fastest growing in the world, rapidly becoming the destination of choice for international investors looking to emerging and frontier markets.