Smuggling rocks Kenya mining sector, leads to loss of billions - News Summed Up

Smuggling rocks Kenya mining sector, leads to loss of billions


The Petroleum and Mining ministry has partly blamed the widespread smuggling of precious stones for the decades-long decline in the industry. The mining sector last year contributed a paltry 0.8 per cent of the gross domestic product, a drop from 2.5 per cent in 2014. The Mineral Rights Board singled out Chinese and Sri Lankan nationals operating in the country as among the key perpetrators of the smuggling. Why do people smuggle, for instance, gold to Tanzania or Uganda while the price is the same? Smuggling needs to be a country collaborative effort… you will find gold coming from DR Congo to Kenya, which will then go to Uganda or Tanzania,” Kuria said.


Source: Standard Digital May 02, 2021 06:15 UTC



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