On behalf of the Ministry of Mining and the Mining Sector as a whole I wish to take this opportunity to announce that Kenya is hosting the First Ever Gem and Jewelry Fair scheduled for Nairobi from 6th-7th July 2017 at the Hotel Intercontinental.
The aim of this inaugural Gem and Jewellery trade fair is not only to position Kenya as a regional hub for precious minerals, value addition and trading but also to promote and create awareness among the youth, women and the general public of the opportunities available in the precious minerals sub-sector.
Kenya is endowed with some of the world’s most sought after gemstones such as the blue Sapphire, Ruby, Tsavorite, Green and red Garnet, Aquamarine among others. These precious minerals have partly contributed to increased revenues generated from the Mining sector.
Most of these gemstones are exported abroad in their raw form for processing and value addition fetching a much higher value at the expense of the miner; it is thus in regard to this that the Ministry has established the first Gemstone Value Addition Centre in Voi Taita Taveta County to enhance the value of our mineral in an endeavor 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 export them in raw form. Similar Value Addition Centres will be replicated in mineral rich counties for facilitating value addition. The Gem Centres will be for identification and certification, faceting/cutting, polishing and heat treatment, it will also provide training and marketing.
The hosting of this Fair will afford the country a great opportunity to show case her mineral wealth and also encourage mining rich communities to embrace mining as an economic activity that has immense potential to transform not only the socio-economic wellbeing of Kenyans but also contribute to the national economic growth.
Similarly, the Trade Fair will present a platform for both investors and locals to interact, market and share experiences on how best to maximize on the huge potential that lies in this lucrative and yet to be fully exploited sector.
Mining is a multi-trillion sector that can transform any economy in a very short time when fully explored and exploited. This Fair is therefore testimony of what the Sector portends for investors and national economies.
I would like to express my sincere gratitude to His Excellency the President for promulgating the Mining Act 2016 that has provided the impetus to promote this nascent sector.
This Act is set to promote mining as a major economic activity with the potential to catapult our economic growth and thus enhance the living standards of communities in mineral rich parts of the country. This fair therefore will further provide opportunities for investors to maximize on the mining potential in Kenya.
In the last one year Kenya has jumped 16 places to position 86 from 102 in the global mining destination attractiveness survey by Fraser Institute. By creating an enabling environment for our miners, the Ministry hopes Kenya will become a top destination for mining investment. With a fast growing Gemstone sub-sector, regional trade platforms such as the Gem and Jewellery Trade fair are aimed at creating opportunities and open up markets for local miners (both small scale and large scale) to redirect focus on precious stones and metals to Kenya.
HON. DAN KAZUNGU,EGH
MINISTRY OF MINING
Press Statement By Hon. Dan Kazungu, Egh, Cabinet Secretary Ministry Of Mining On Hosting Of The First Ever Gem And Jewellery Fair In Nairobi Kenya On 6th -7th July 2017.