Unofficial gemstone transactions not only make mineral dealers susceptible to swindling rackets, but also provide loopholes for international money laundering.
Deputy Minister for Energy and Minerals, Mr Stephen Masele
Deputy Minister for Energy and Minerals, Mr Stephen Masele, has cautioned foreign gemstone dealers who come to Tanzania for the trade, to use official channels and authentic outlets to save themselves problems related with illegal transactions that have become notorious in the region.
He was addressing exhibitors and visitors to the ongoing Second Arusha International Gem, Jewelry and Minerals Fair 2013 taking place at New Mount Meru Hotel grounds.
The minister pointed out that his office has been receiving complaints of foreign mineral dealers claiming to have been swindled by local racketeers but upon follow ups, it turned out that, the buyers themselves have been trying to by-pass official channels so as to get gemstones on bargain.
Mr Masele also warned local dealers not to rush into conducting transactions with foreign buyers who want to skip the fixed regulations by offering them huge sums of money without asking themselves if the money passed through legal channels or was being ‘laundered’ through gemstone trading.
From October 7, the Government had suspended issuing permits for the local export of all types of gemstones and this will remain so until the 7th of November 2013 and during this period, all international dealers will be subjected to buy gemstones from the Arusha Fair.
That means, all Tanzanite and related Gemstones will only be bought at the temporary auction centre in the ‘Arusha International Gem, Jewelry and Minerals Fair 2013,” and according to Mr Benjamin Mchwampaka the Northern Zone Assistant Commissioner for Minerals adding the permits issuing will resume from the 7th of November 2013.
The Minerals and Gemstones Fair, which runs from the 28th to the 31st of October this year, has attracted more than 700 exhibitors, according to Mr Peter Pereira the chairman for the organizing committee.
Related exhibitions feature all minerals found in the East, Central and Southern Africa exhibited and auctioned at the Arusha Event which also happens to be the one and only Minerals and Gemstones fair in the continent.
Participating exhibitors are hailing from, among other countries, Zambia, Madagascar, Mozambique, Kenya, Ethiopia, DR Congo, South Africa, Namibia, Uganda, Malawi, Zimbabwe and the host Tanzania.
Visitors and buyers on the other hand are from Europe, Asia, the United States of America, Far and Middle East as well as a number of African states from the southern to the Northern tips of the continent.
During the maiden ‘Arusha International Gemstones, Jewelry and Minerals Fair’ held last year (2012) Tanzania managed to sell gemstones and minerals valued at US $ 4 million (6.5 billion/-) within just three days of the expo and this year, the country expects to double that.
By MARC NKWAME, Tanzania Daily News
