This year’s Gold Gemstone Jewellery Exhibition and Conference held on the 26-28th of September at the Pan African Centre, Victoria Island Lagos. For Three days the Conference hosted panel discussions, innovative discourses surrounding sustainable Mining practices, the gemstone industry and fusion of jewellery and fashion. Here are ten takeaways from the conference
Economic Potential :To unlock the potential to produce billions of dollars in revenue for the continent, African governments need to remove barriers preventing the growth of the gemstone value chain.
Job Creation: Gemstone mining has the potential to generate a great deal of jobs throughout Africa if the right frameworks are put in place.
Women’s Participation : For the gemstone industry to thrive and be sustainable, more women must be included in the processes of gemstone processing, pricing, and exploration.
Collaborative Efforts: To fully realise the benefits of the value chain, the African Gold Gemstone Jewellery Exhibition & Conference underscored the necessity of stronger collaboration across stakeholders.
Institutional Backing: International organisations like UNIDO and financial institutions like EcoBank, Lotus Bank, and NEXIM Bank are assisting the development of the gemstone mining industry in Africa.
Government Role: African nations must to reconsider and and broaden their empowerment initiatives to increase women’s participation and unlock the sector’s potential.
Local and Diaspora Funding: More locally produced capital flows into the diamond business when there is adequate local financial support, reducing reliance on diaspora funding.
Empowerment Programs: By helping women in the mining industry become important participants in the value chain, strategic empowerment programs can promote gender inclusion and economic empowerment.
Global Market Demand: Due to its abundance of valuable stones and gemstones, Africa has a tremendous unrealised potential to meet global demand and make a sizable profit.
Capacity Building: Occasions such as the Gold and Gemstone Conference offer vital venues for women to improve their competencies via master sessions, thereby fostering the industry’s sustainable growth.
Africa’s Prospects for Gemstone Mining
If infrastructure, capacity building, and inclusive policies continue to be invested in, the future of gemstone mining in Africa appears bright. When paired with well-thought-out legislative and financial support, the continent’s abundant mineral resources have the potential to make gemstone mining a significant economic force. To fully realise Africa’s potential as a global leader in the diamond sector, cooperation between domestic and foreign stakeholders will be essential, especially when it comes to encouraging women’s participation. Africa is positioned to revolutionise the diamond industry and generate long-term socioeconomic advantages for its people as sustainable practices and innovations advance.
