Mining
Gemstone export ban stalls inventory valuation
October 09, 2025 / Marcel Chimwala
Jimusole: We are sitting on gemstones that can bring significant revenue
Yami Gemstone Lab & Exports (YAGLE) says its operations remain paralyzed as the Ministry of Mining and the Mining and Minerals Regulatory Authority (MMRA) have yet to assess and certify its gemstone inventory, more than three years after its first proposal submission, with gemstone export ban now in place.
Speaking in an interview, YAGLE owner and gemologist Yamikani Jimusole expressed frustration that despite repeated letters and meetings with both the Ministry and MMRA, no concrete action has been taken by government. “We have been waiting since 2022 for a credible assessment of our inventory.
We were told in May 2024 that our request was forwarded to the relevant section, but to this day, nothing has been done,” he said.
Jimusole lamented that this lack of valuation has far-reaching consequences since though YAGLE has built a sizeable inventory for small-scale mining activities in Mzimba, it cannot sell or export the gemstones without official certification.
“We are sitting on gemstones that can bring in significant revenue for us and for Malawi through royalties and taxes, yet we are blocked because there is no proper system in place,” he said.
Jimusole said the situation worsened in February this year when Vice President Michael Usi announced the suspension of gemstone exports, citing undervaluation and poor valuation systems.
He said initially the suspension appeared as a necessary reform but lack of a roadmap has left businesses stranded.
“We fully support the suspension because it aligns with the reforms we have been advocating for, for years now. But what is the plan? As of September 2025, there are still no accredited gemologists in government service, and it is not clear when the export ban will end,” he said.
Jimusole argued that the absence of a functional valuation framework is costing not only the company but also the country at large. He revealed that the company lost out on a prestigious Gemological Institute of America (GIA) Jewelry Design Scholarship and an invitation to the Africa Startup Forum 2025 because it could not demonstrate transparent valuations of its inventory.
“We are missing global opportunities because Malawi still lacks proper certification systems. This is bigger than just YAGLE; it is about the credibility of our entire gemstone industry,”
Jimusole stressed. The delays have also jeopardized YAGLE’s access to financing. In letters to both MMRA and the Office of the President and Cabinet, the company argued that proper valuation would help secure funding from the National Bank of Malawi and NBS Bank.
“Banks cannot support us without credible valuations. This is why timely assessments are not just important but they are essential for the growth of the mining sector,” he said.
YAGLE has since escalated the matter beyond the Ministry. Copies of letters seen by Mining & Trade Review show the company petitioning the Office of the President and Cabinet and the United Nations Development Programme (UNDP) for intervention.
Jimusole said these steps were not taken lightly, “we wanted to resolve this internally, but after years of silence and substandard reports, we had no choice but to seek external support.”
Beyond its own operations, YAGLE has consistently advocated for reforms in Malawi’s gemstone industry, arguing that the country has the potential to generate over $1 billion annually from gemstones if systems are properly established.
“Malawi is blessed with rubies, sapphires, aquamarine, tourmaline, garnets and more. With proper certification, our gemstones can compete globally, creating jobs, boosting exports, and generating revenue for government,” Jimusole said.
He emphasized that the delays by government are undermining investor confidence. “How can we attract serious buyers or partners when our government cannot even provide a credible valuation system? Investors need transparency, and without it, we are chasing them away,” he said.
As of now, YAGLE is awaiting feedback from MMRA and UNDP, while also calling for urgent political will to unlock the gemstone industry’s potential.
With credible valuation and certification systems in place, Malawi’s gemstone sector has the potential to contribute significantly to the country’s economy through exports, royalties and job creation.
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