Minister of Finance of Zambia, Dr Situmbeko Musokotwane, has suspended the 15% export duty on precious gemstones and metals by issuing Statutory Instrument No. 4 of 2025 on 18 February 2025 (the Customs and Excise (Precious Stones and Metals) (Export Duty) (Suspension) Order). This suspension is effective immediately.
A Heartfelt Thank You to the Government and Ministry of Finance
“We, the Emerald and Semi-Precious Stones Mining Association of Zambia (ESMAZ), wish to express our deepest gratitude to the Government of the Republic of Zambia, through the Ministry of Finance, and the able leadership of President Hakainde Hichilema for demonstrating good governance and responsible leadership,” writes Victor Kalesha, President, ESMAZ.
“The Ministry’s prompt response to our concerns regarding the 15% gemstone export tax has saved the gemstone industry from potential collapse and demonstrated the government’s commitment to creating a conducive business environment,” notes Kalesha. “We appreciate the Ministry’s willingness to engage with stakeholders and understand the dynamics of taxes that can hinder sector growth and investment.”
“We are confident that this kind of leadership, which listens to the concerns of its citizens and stakeholders, triggers development in a country. We also appreciate the Minister of Finance and his team, the members of parliament, especially the Lufwanyama MP, and the cabinet for listening to us.”
Kalesha reiterates that, “As an industry, we are grateful for the government’s decision to withdraw the 15% gemstone export tax. This wise decision will undoubtedly boost investor confidence, promote sector sustainability, and contribute to the country’s economic growth.”
“We look forward to continued collaboration with the Ministry of Finance and other stakeholders to ensure the gemstone industry remains a vital contributor to Zambia’s economy. Once again, thank you, Ministry of Finance, and the Government of the Republic of Zambia, for your prompt and decisive action.”
Gemfields Was Pleased
Sean Gilbertson, CEO of Gemfields, said, “We express our sincere thanks to President Hakainde Hichilema’s government for their prompt and impressive action in addressing the 15% export duty on precious gemstones. The Zambian emerald sector has delivered phenomenal growth over the last 16 years and is today – by a significant margin –the world’s largest emerald exporter. The government’s collaborative approach and decisive action are clear demonstrations of its intent to deliver growth and jobs for Zambia and this step puts our industry back on track to continue that trajectory.”
End of Discussion?
Not Quite. There is talk amongst ASM that the legislature still has to ratify this latest suspension of export duty, and that all of this was to somehow enrich foreign interests and will not assist the local Zambian mining communities.
The Roskin Gem News will continue to follow this evolving story.
