State diamond marketing and sales company, Namdia, revealed in its annual report 2019/20 that it had recorded a decrease in profit of 41% as the global diamond industry battled with a number of challenges, including lack of bank financing, the depreciation of the Indian rupee, lower profit margins, and the competition of synthetics diamonds. The full year profit after tax amounted to N$95.2 million, the company said, revealing that N$ 80 million had been paid to the Government in the form of a dividend. The report also revealed that the company had paid export levies of N$19 million and N$63 million in taxes to the Ministry of Finance, while also investing an amount of N$809 435 in staff training, development and welfare.