Ruby businesspersons see new horizons at TSN Business Forum

By DEUS NGOWI in Arusha 

RUBY traders have expressed gratitude and new hope after they were given time to air their views and connect with stakeholders in the TSN Business Forum held here recently, and now are asking the government to let them sell the gemstone in while in raw form.

Speaking to the ‘Daily News’ after the Business Forum that was organized by the Tanzania Standard (Newspapers) Ltd (TSN), the traders claimed that the pink to blood-red colored gemstones tend to diminish in value when are processed.

Mr Olais Mushao from Mundarara ward, Longido District in Arusha Region, said the forum had served to provide a critical sense of sharing with key stakeholders, and were happy to learn from the Minister of Information, Arts, Sports and Culture, Dr Harrison Mwakyembe that the Government was responsive.

He thanked TSN for availing them the opportunity to learn and exchange experience at the forum as now they have many contacts and are hopeful will be successful in their business as are confident the Government will take into account their concerns and work on them.

He said the Government would also earn more if the gemstones are sold without being cut or carved. Mr Mshao said if the Government adheres to their request it would mean that more common people from Longido District where the mines are found will come up economically. The quality of a ruby is determined by its colour, cut, and clarity, which, along with carat weight, affect its value.

The brightest and most valuable shade of red called blood-red or pigeon blood, commands a large premium over other rubies of similar quality.

He noted that the businesspersons currently are in difficulty due to control that has been exercised by the Government over the traders who are not allowed to sell the gemstones in their raw form.

He said they have been moving from place to place in search of buyers but in vain.

“We request our Government that we know is quick to respond to take our request so that we can sell ruby in its raw form so that we earn more profit and the Government gets its share in tax in accordance with set procedures,” said Mr Mshao.

Others who joined Mr Mshao were fellow traders Mr Baraka Laizer and Lucas ole Ng’iria who asked the Government to support ruby traders so that they export the gemstones.

A retired Member of Parliament, Mr Lekule Laizer who is also a ruby trader said he was sure that the Government through the Ministry of Minerals would address the situation