Malawi's government is demanding an astounding $309 billion from Columbia Gem House, a US-based gemstone company, in unpaid taxes and royalties for rubies exported from the southern African nation over the past 10 years. The demand is part of a broader effort to secure unpaid revenues from multinational companies, including French gas giant TotalEnergies and Turkish tobacco firm Star Agritech.

Attorney General Thabo Chakaka Nyirenda announced the claims, stating that the US company had under-reported the value of the rubies. The claims are based on evidence from Columbia Gem House itself, including reports made on its website, which has since been deleted. However, Columbia Gem House has dismissed the allegations, arguing that the amount demanded is implausible and does not match the value of the gemstones allegedly exported.

Malawi's government is also pursuing other international companies for unpaid debts, including a $4 billion claim against TotalEnergies for unpaid revenue from an oil storage deal, and $9.5 million from Star Agritech International over unpaid tobacco purchases.

The $309 billion claim against Columbia Gem House is nearly 300 times the country’s national debt and significantly exceeds its GDP, raising concerns about the practicality of such claims. As Malawi faces severe financial strain, including a bailout from the International Monetary Fund, economists speculate that the government’s focus on such large sums may be driven by its ongoing financial difficulties.

This legal battle highlights broader issues of financial accountability, international trade practices, and the challenges faced by African nations in securing fair revenue from multinational corporations.