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Tanzanite purchaser set to cut, polish gemstone locally

Discussion in 'Habari na Hoja mchanganyiko' started by BabuK, Oct 31, 2012.

  1. BabuK

    BabuK JF-Expert Member

    Oct 31, 2012
    Joined: Jul 30, 2008
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    Morris Gad, the World largest buyer of Tanzanite gemstone and Chairman and CEO of Diamonds International, plans a major foray into the gemstone industry in Tanzania in the near future.

    Gad, the largest jewelry retailer in the Caribbean, said his venture would involve an investment of multi-million-dollars.

    "In the next two or three months, I will announce a major investment plan in Tanzanite industry that would create substantial number of employments to Tanzanians," he told a press conference in Arusha on late Friday.

    Gad, who purchases 70 per cent of Tanzanite production, said the move is driven by his ‘passion of paying back to the people who gave him the magical Tanzanite jewel.'

    According to him, Diamonds International would be sourcing the polished stone only in Tanzania and not any other country so that local people can benefit out of the trade.

    "Our commitment is to create employment to Tanzanians as a way to pay back to them for giving us a precious Tanzanite jewel through which we make a fortune," the Jewish tycoon explained.

    A philanthropist, Gad donated $10,000 to Naisinyai and Mtakuja primary schools in Mererani, Simanjiro District in Manyara Region for the purchase textbooks.

    The Tanzanite mogul said the financial support was just the beginning, promising to supply more textbooks and other crucial scholastic materials anytime soon to satisfy the knowledge hungry Maasai pupils.

    "During our visit to these two schools, we had few text books. When we started giving them the books, every pupil raised a hand demanding a book, showing that these children are hungry for education," he said.

    Daughter Sara Morris Gad who accompanied him on the Tanzania business trip said she was keen to learn the Tanzanian culture as well as the story behind Tanzanite gemstone and to tell her customers.

    "Customers have been asking the story behind the Tanzanite, its origin. So this trip has enabled us to learn," explained Sara who is currently championing the Tanzanite ‘Safikilima' brand rollout in the global market.

    Diamonds International was founded in St Thomas in 1988 and offers the largest selection of luxury watches, diamond and coloured stone jewelry in the Caribbean and beyond. The company has more than 140 locations in the United States, Mexico and the Caribbean

    Managing director of Signature Gems firm, Sailesh Pandit, the host of Morris Gad, said the mogul has agreed to support the Tanzanite trade in Tanzania.

    "We are very happy to have him here to support the trade, which in turn will boost our economic growth," said Pandit.

    For his part the Managing Director of New York-based Inter Colour Company, Benjamin Hackman, said the government idea to cut and polish gemstone in the country was healthy for the local economy.
  2. Sabayi

    Sabayi JF-Expert Member

    Oct 31, 2012
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    Mbona Tanzinite yenyewe ndo inaishia?