The Ascorp diamond trading company was formed in the year 2000. Ascorp or the Angolan selling corporation is a government as well as a private organization. Apart from private investments the government is also a share holder of the company. A rule was made that all diamond transactions should be done through the diamond trading company Endiama. This national company was formed in 1981 by the fund provided by the state as well as by the public.
The company's headquarter is at Major Kanhangulo street which is the capital of Angola. In 2001, a lot have been written about this Ascorp, Angola diamond trading company because it has been seen that it has took the whole diamond business within its purview. It has been said that the company by lowering down its prices are helping in smuggling. At that time, it was heard that the shareholders of the Ascorp group are well connected with the President of the Angola. Rumors were spread that the Ascorp, Angola was also dealing with illegal arms and ammunitions.
