Thoko Zwane, Mosibudi Jo Mathole and Munirah Desai run their own diamond cutting and polishing businesses in an industry still dominated by men. All three came through De Beers Group’s Enterprise Development Project for Diamond Beneficiators, facilitated by business incubator Raizcorp, which helped transform their operations from informal ventures into structured, professional companies.
Thoko Zwane, Thoko’s Diamonds
Established in 2004, Thoko’s Diamonds is one of South Africa’s leading black-owned diamond cutting and polishing companies, supplying rough and polished diamonds to local and international markets. Zwane built the business after buying her first stone with her own savings, gradually earning enough trust from suppliers to receive diamonds on credit as the business grew.
Mosibudi Jo Mathole, Kwame Diamonds
Founded in 2008, Kwame Diamonds cuts and polishes rough diamonds and has built a workforce weighted toward women in an industry where that remains unusual. Mathole entered the industry from a stockbroking background, drawn in after visiting a mine and discovering the sector’s technical demands matched her interest in a fast-moving, high-pressure environment.
Munirah Desai, Diamonds Africa
Diamonds Africa specialises in rough and polished diamonds over one carat, supplying certified, conflict-free stones cut and polished in South Africa by South Africans. Desai qualified through the Harry Oppenheimer Diamond Trading School and as a GIA graduate before building her business with Raizcorp’s support.
What the three businesses have in common
Each entrepreneur described similar barriers: capital-intensive, imported equipment; a historically closed, family-based industry culture; and the added weight of proving themselves credible in a male-dominated field before being trusted with supply or clients. All three credit structured business support, not just access to diamonds, with turning their ventures into properly run companies.
Frequently asked questions
Is South Africa’s diamond cutting and polishing industry still a viable business to enter?
It remains a capital-intensive, relationship-driven industry, but structured development programmes like the one these three entrepreneurs completed have shown it is possible to build a sustainable business without a family legacy in the trade.
Why is access to funding such a major barrier in this industry specifically?
The equipment required is largely imported and expensive, and without an existing family business or industry relationships, new entrants often struggle to access supply on credit terms that make the business viable early on.
Has De Beers’ enterprise development work continued to support black-owned diamond businesses?
Programmes like the one that supported these three companies were specifically designed to grow black-owned diamond beneficiation businesses in South Africa, addressing a historic gap in industry ownership.
Breaking into a closed industry, one relationship at a time
Thoko Zwane, Mosibudi Jo Mathole and Munirah Desai each built genuine, functioning diamond businesses by combining technical training with the kind of professional business support that turns a niche skill into a sustainable company.
Further reading: Entrepreneur Support: How to Join Proudly SA | Department of Trade, Industry and Competition for official small business support information
Originally published in June 2019. Updated September 2026 to confirm all three diamond businesses remain active and tighten this profile. Their founders’ stories remain a genuine example of transformation in the industry.
