It is so painful that there are political leaders in this country that care less for the country and do not mean well for this great country of ours. Can any well meaning citizen justify why government sold Kagem. What is the difficulty in mining emeralds? These are precious stones God has us which we have foolishly given to foreigners as a country. I want to assure the nation that l sort out the privatization mess that was created and discharged by greedy and none caring citizens.
WE ONLY NEED 268 kg of first grade emerald to pay the $750 million Eurobond.
The major shareholder in Zambia’s biggest emerald mine is from Indian and one carat of first grade emerald from Zambia cost 40 000 Rupees which works out to $583.
5000 carats make 1kg which translates to $2.8 million for a kg of emeralds.
From this information it is clear that as a country we only need 268kg of emeralds to pay the $750 million Eurobond. The challenge is that we have handed over our precious stones to foreigners.
What foreigners have been doing in the gemstone industry is that they hide the first grade and present the poor and cheap low grade to the government for auction.There is no way 5kg of emerald can cost K4 million as reported by Kagem. This is outright rubbish and just shows how careless our government is. I will rectify the mess come 2021