Kenya set to host the first jewelry trade fair

Kenya will play host to the first ever Gem and Jewelry trade fair scheduled for Thursday 6 to 7 July, 2017, Nairobi.

Mining Cabinet Secretary (CS), Dan Kazungu said that the aim of the trade fair is to position Kenya as a regional hub for precious minerals and create awareness among the youth, women and the general public, of the available opportunities in the precious mineral subsector.

Kenya is endowed with some of the world’s most sought out after gemstones. These precious minerals have partly contributed to increased revenue generated from the mining sector, said Kazungu.

The CS noted that it is because of their economic value that the ministry has established the first gemstone value addition centre in Voi, Vihiga, and West Pokot to enhance the value of minerals in an endeavour to fetch competitive prices at the international market.

The value addition process will greatly encourage local miners and traders of these stones since they will now market finished goods instead of exporting them in a raw form, said Kazungu.

He noted that mining is a multimillion sector that can transform any economy in a very short time when fully explored and exploited.

The CS also said that the 2016 Mining Act that was assented into law will promote mining as a major economic activity with the potential to enhance economic growth.

Democratic Republic of Congo Mining Minister, Kangudia Mbayi said that Africa is losing between Sh. 500 and 600 million every year to mineral exploitation cartels.

Source: Kenya News Agency