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Gemstone Panel: Bringing Value Back to Source Countries

A session by Monica Gichuhi, Marcena Hunter, Chiko Manda and Mukasiri Sibanda
VirtuGem | AGEC, Global Initiative, Perekezi ASM Consultants and Tax Justice Network Africa

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About this session

The gemstone industry relies heavily on gems from Africa, but how can African countries benefit from this commerce. The rough gemstone sector is valued at over 17 billion dollars. Tax dollars that should be gained from the gemstone trade to bring infrastructure and economic equity are lost when gems move across country boarders illegally. How much is lost and how much could the benefits be if the systems and supply chain were to change. Discover the path of gems from Africa through Thailand with the report A Rough Cut Trade, Africa’s Colored-Gemstone Flows to Asia. Hear first hand how Malawi’s artisanal miners have seen the affect on their rhodolite garnets leaving Malawi into neighboring countries that claim their origin. New mine to market initiatives and block chain are viable options for the future of gemstone trade.

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