CAR Warlords Reaping Funding From Illicit Diamond Trading

Economy
18/06/2015 07:54

Rough diamond are the biggest source of export revenue for the Central African Republic (CAR) even though it has been suspended from the Kimberley Process Certification Scheme since May 2013, says the Enough Project, which placed a value of $39 million for its diamond trade in 2014 and almost $13 million for the January-April of this year.
The group's Warlord Business report by Kasper Agger finds that armed groups profit from a shadow economy where factions, warlords and illicit networks generate millions of dollars through robbery, extortion and the illegal trading of gold and diamonds.