Old Kilindini road known for gold jewellery slowly losing its glitter

Looking down Old Kilindini Road in Mombasa is like gazing at a glittering treasure trove of gold. It is nonstop choreography of jewelry shops dotting the street.

It is a road that has for the last 400 years been inhabited by Indian traders dealing in ornaments. The trade, according to the current generation of the Indian road, has been glittering since 1844.

National Museum of Kenya (NMK) official Raphael Igombo says since the goldsmiths and money lenders arrived in Mombasa from India four centuries ago, they have never looked back. “Generations after generations have taken up the mantle of running the jewelry shops without looking back and it is still the same families controlling jewelry business in Mombasa,” said Mr Igombo.

In an interview at Fort Jesus Museum, Igombo explained that the street had remained the same for years because goldsmith skills were passed over to generations.

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The official said the street was specifically reserved for jewelry shops and money lending. 

“The money lenders used to lend traders in exchange of gold of equivalent amount for a specific period when the money was supposed to be paid,” explained Igombo.

Whenever the borrower defaulted, the lender would confiscate the gold and sell it to Sonara.

When the goldsmith arrived in Mombasa 400 years ago they ventured into the trade by exchanging gold with some currencies such as the Indian rupee.

He said that was how the street gained its popularity. It also played a major role in the economic growth of Mombasa as it is where billions of shillings have exchanged hands for five centuries.

It is where gold is exchanged for money before being sold to the goldsmiths located in various shops who in turn mold them into ornaments which are sold at Sh6,280 a gram. The price however varies after every minute as is the case in the world market rate.

A kilogramme of gold in Mombasa goes for more than Sh6.2 million, depending on what time you deliver. The prices fluctuate a lot.

The street has for many years attracted many tourists because of the good workmanship of experienced goldsmiths.

It has been the most lucrative business in Mombasa, which earns Kenya billions of shillings annually, although things have changed in the last two years when tourism went down.

Started dwindling

According to goldsmiths who did not want to be named, the business in Mombasa has started dwindling because of many factors. “Things have been slow for the last couple of years,” claimed a businessman.

Another trader regretted that the business faced a bleak future.

He said even businessmen who used to invest in gold bars in exchange for cash had drastically reduced. Most families that depend on these businesses also live here. 

Most of the buildings have big balconies and open spaces where the families congregate to enjoy fresh sea breeze.

“We have been doing some renovations to see if we can spice things up in these hard times, but the mode of doing business remains the same,” said the trader.

Fatma Ahmed, who recently took charge of the family business after her husband died, said the business had not been doing well for the last two years, but things got worse after the Covid-19 outbreak.

“I know my husband inherited this shop from his father, a son of a goldsmith who settled in Mombasa many years ago,” said Fatma.

She added that the customers were few and far away, yet that was her only source of income.

“We used to rely on tourist couples coming to the Old Town, but this is no longer the case. We now rely on locals,” explains Fatma.