EMERALD PRODUCTION WATCH OF ZAMBIA CALLS FOR COMPREHENSIVE STUDY INTO STATE OF ZAMBIA’S GEMSTONES SECTOR

The Emerald Production Watch of Zambia President Musa Kafimbwa has called for a comprehensive study into the state of the gemstones sector to ascertain the challenges, set a trajectory and allow for Zambia to maximize on the potential of the multi-billion-dollars sub-sector.

Mr. Kafimbwa believes that with less than 10 licenses active out of nearly 500, Zambia must address the issues that have kept license holders dormant, such as funding and equipment.

He tells Phoenix News that the Zambian government has the capacity to partner with Zambian citizens who own licenses and fully fund the sector without debt or foreign investors.

Mr. Kafimbwa has bemoaned government’s failure to disburse the K50 million allocated to the sub-sector in the 2023 national budget, and has urged government to carry this amount forward and invest it in emerald production next year, with an increased amount in the 2024 national budget.

He claims that government has shown little interest in the sector, despite its potential to generate billions of dollars in revenue, create thousands of jobs and considerably enhance the country’s economy.