By Chisomo Phiri
In a landmark achievement, Yami Gemstone Lab and Exports (YAGLE), a Malawian gemstone mining company owned by gemologist Yamikani Jimusole, has been crowned the Best Mining SME 2025 organized by Standard Bank of Malawi in collaboration with Small and Medium Enterprises Development Institute (SMEDI).
The victory demonstrates YAGLE’s testament unwavering commitment to revolutionizing Malawi’s mining sector.
Speaking to 247 Malawi News, Jimusole emphasized the significance of the award, highlighting the vast potential of Malawi’s gemstone industry.
“We are thrilled to receive this recognition from such esteemed organizers and judges.It is sad that despite Malawi having so many rare gemstones capable of generating even billions of dollars annually, the country is still poor… However, YAGLE has the solution,” he said.
The solution, according to Jimusole, lies in establishing proper grading, certification, and appraisal systems to ensure Malawi’s gemstones attract premium markets.
He said shockingly, a whopping 99.9% of gemstone participants lack formal gemology training, and the country has no accredited gemstone labs.
Jimusole said YAGLE is bridging this gap by setting up Malawi’s first Gemological & Entrepreneurship Institute, a state-of-the-art gemstone lab, and commercializing its mines.
He added that the company has also thrown its weight behind the government’s recent gemstone export ban, citing undervaluation and a flawed valuation system as major concerns.
“We supported the move as it will ensure fair prices for miners and everyone involved.However, the organization stresses that the country must address the root causes of the problem, including the lack of facilities to process gemstones in bulk,” said Jimusole.
He said according to the World Bank, over 700 tons of gemstones were exported in 2024, while locally, SMEDI can only process a mere 10 tons annually.
“Therefore, priority should be given to capacity building,” he urged.
As Malawi strives to unlock its mineral wealth and boost its economy, YAGLE’s win serves as a beacon of hope.
The company is calling on all stakeholders to prioritize mining, emphasizing its potential to address forex shortages within a year.
