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Law

Tanzania: Tanzanite trafficking still a threat to the economy

Tuesday, 12 January 2016 07:48

(Ecofin Agency) - On December 15, 2015, $1.2 million worth of tanzanite were impounded at the Kilimanjaro International Airport as they were being sent to India. Since the adoption of the Law on mining and its implementation in 2012, this is the 87th attempt of trafficking that has been stopped.

An official report published by Tanzanian authorities reveals that in four years, the border police seized 2,870kg of tanzanite worth $9.4 million.

Each year, the state loses, in average, $2.7 million to gem trafficking despite the heavy penalties provided by law to prevent it.

Only country to produce tanzanite, Tanzania has experienced a growth in trafficking since it implemented the legislation on mining which prohibits the export, of any kind, of raw tanzanite. The main aim here was to promote the local processing industry for the commodity, generate jobs and boost its value.

Stéphanie C. Tohon

 
Finance


 
Mining


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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