“A lot of revenue that is meant to be generated through taxation and royalties are bring lost to the increased shipment of illegal minerals,” Kazungu said at the port of Mombasa.
Kenya has been cited as a key channel for the smuggling of illegally mined minerals from Kenya and neighboring countries as the port of Mombasa, in Kenya is considered as the enterance to East Africa and a major exit point for exports to the rest of the world.
Some of the minerals are procured from countries such as Tanzania, the Democratic Republic of the Congo (DRC) and the Central African Republic (CAR).
Some of the illegally shipped minerals include gold, copper ore, gemstones such as rubies, tsavorites and diamonds.
The East African nation has undertaken major reforms in the sector including the review of its mining fiscal regime to be in line with the new Mining Act 2016 and global best practice.
Africa loses 50 billion U.S. dollars annually to illicit financial flows with the extractive sector accounting for 56.2 percent of the loss, according to a recent United Nations Economic Commission for Africa report.
