The Emerald Production Watch of Zambia has lauded the government’s recent decision to remove the 15% export duty tax on gemstones, a move expected to revitalize the country’s gemstone industry.
In an exclusive interview with ZNBC News, Emerald Production Watch President Musa Kafimbwa praised the policy shift, describing it as a timely intervention for an industry still recovering from the economic shocks of the COVID-19 pandemic.
“This decision is a significant step towards supporting capital investment and growth in the gemstone sector,” Mr. Kafimbwa said. “The industry has faced numerous challenges in recent years, and this move will undoubtedly provide much-needed relief and encouragement to stakeholders.”
The gemstone industry, a key contributor to Zambia’s economy, has been grappling with reduced production and export levels since the onset of the pandemic. The removal of the export duty tax is expected to attract more investors, enhance competitiveness in the global market, and ultimately increase revenue generation for the country.
Mr. Kafimbwa emphasized that the policy change will not only benefit large-scale miners but also small-scale miners and local traders who have struggled to stay afloat amid rising operational costs. “This is a win for the entire value chain, from miners to exporters, and it will help create more jobs and stimulate economic activity,” he added.
The government’s decision comes as part of broader efforts to bolster the mining sector, which remains a cornerstone of Zambia’s economy. Industry experts predict that the tax removal will position Zambia as a more attractive destination for gemstone investment, particularly in emerald mining, where the country is already a global leader.
As the gemstone industry begins to regain its footing, stakeholders are optimistic that this policy shift will pave the way for sustained growth and increased contributions to the national economy.
Never half-way…, it’s either too much or totally nothing. If people “survived” but complained on 15%, can’t they surely manage with something between 5-10%?
Anywhere in the range 3, 5, 8, 10, it would have sufficed. Oh, but not zero! What went wrong with our economists? Think of a trade discount.
Government should work on all industries and not just the mines. Look at how service in their own NAPSA branches is compromised because of poor staffing numbers. You have to wait in queues thereby affecting peoples productivity time, I have been going to some of their branches on the Copperbelt, you can tell that staff are over worked, just one person interfacing many customers.
You are very right. It makes you feel like a destitute looking for a handout.
Confusion in a paradise called Zambia. By the time you realize it, the emerald will have been exhausted from the ground.
This is announced as if it’s a new thing when it was scrapped before then reimposed a few months ago… Just make sure revenue is raised properly not chipantepante and announcements
When is our able government removing P.A.Y.E. I would have understood if they removed import duty on solar equipment if they are that caring. Do not be cheated, this move is to appease some foreigners who Hichilema promised something while in opposition. When Trump is telling Africans leaders to learn to use their resources for development, our foolz are giving away resources for free.
When is our able government removing P.A.Y.E. I would have understood if they removed import duty on solar equipment if they are that caring. Do not be cheated, this move is to appease some foreigners who Kainde promised something while in opposition. When Trump is telling Africans leaders to learn to use their resources for development, our clowns are giving away resources for free.
In fact Trump has alluded to such unpatriotic fawning by our leaders towards foreigners at the expense of the nationals….he adds BECAUSE THEY RECEIVED BRIBES
First it was mineral royalties exemption. Now it is removal of duty. What will Zambia benefit from? Why didn’t the government settle for a fraction or less than remaining with nothing?
GRZ has a bloated civil service. Where would money come from for salaries gratuities and pension? Where are our priorities? Didn’t we vote in the Economist to deal with these problems? This is why we still borrow than grow money in the backyard.
Meanwhile their MPs walk out of Parliament for fear of discussing a very cardinal issue…. COST OF FOOD AND SERVICES. This was the time to share ideas how we can make life livable for our people… but?