ARUSHA: THE country’s second gemstone auction is scheduled for today in Arusha after mineral traders had been given a three-day window to view and verify a variety of gemstones at the Tanzania Gemological Centre (TGC).
Director of Inspection and Mineral Trade at the Tanzania Mining Commission, Venance Kasiki, announced the update yesterday, emphasising that the viewing and inspection process has been underway since Saturday and will conclude today.
“The auction will be conducted online, allowing traders to compete through a transparent bidding system. The highest bidder who meets the seller’s conditions will win the gemstones and receive them upon completion of the transaction process,” said Kasiki.
He clarified that no physical stones will be present at the auction site, as all transactions will take place virtually with full visibility of the available gemstones and their respective prices.
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Following the Arusha auction, similar events will be organised in other gemstone-rich regions, including Morogoro, Ruvuma, Tanga, Mahenge, Dar es Salaam, and Lindi.
Senior Trade Officer at the Tanzania Mercantile Exchange, Nicolaus Kaserwa, noted that the shift to online trading aims to boost transparency, encourage fair competition, cut operational costs, and expand the market for traders.
“After the success of the first auction, we’ve made major improvements based on stakeholder feedback and we encourage traders to participate in large numbers to ensure its success,” he added.
Mr Kalanga Mokoyo, a gemstone trader, expressed gratitude to the Sixth Phase Government under President Dr Samia Suluhu Hassan, praising the online auctions for creating reliable, accessible, and transparent markets.
“These auctions have lifted a burden off our shoulders. In the past, we operated in fear and secrecy. Now, everything is open and legitimatewe can participate and purchase with ease,” said Mr Mokoyo.
