Diamond firms fool #mugabe - Zimbabwe Situation

Diamond firms fool #mugabe

via Diamond firms fool Mugabe February 14, 2014 by Veneranda Langa NewsDay

PRESIDENT Robert Mugabe was apparently fooled last July by diamond-mining companies in Marange when he was made to present a dummy $1,5 million cheque to the Zimunya-Marange Community Share Ownership Trust where only $400 000 was later deposited and at least $1,1 million is still missing.

This was revealed by Zimunya-Marange Community Share Ownership Trust chairman chief Gilbert Marange when he appeared before the Youth, Indigenisation and Economic Empowerment Portfolio Committee chaired by Zanu PF Gokwe-Nembudziya MP Justice Mayor Wadyajena.

It also emerged during the committee hearing that the trustees of the Zimunya-Marange Community Share Ownership Trust misused $45 000 of the $400 000 that was deposited into the community trust account and failed to adequately account for it before the committee.

Chief Marange was accompanied by other members of the trust.

It was also disclosed that the only signatories to the fund were Chief Marange, secretary Shepherd Chinaka and chief Kiben Bvirindi Zimunya, but there was no treasurer.

“Five mining companies in Marange were supposed to put in $10 million each to make it $50 million into the community share ownership trust, but in July last year when it was launched by Mugabe, the President was made to present a cheque of $1,5 million of which it later emerged only $400 000 had been deposited in the bank — $200 000 by Mbada Diamonds and another $200 000 by Marange Resources,” Chief Marange said.

“We have not yet seen the balance of $1,1 million which was part of the amount in the cheque because the other three diamond-mining companies Anjin, Diamond Mining Company and Jinan did not put in a cent.”

Chief Zimunya added: “There has been a lot of political interference by Zanu PF bigwigs on disbursement of those funds. Unfortunately, I cannot say their names, but those bigwigs in Mutare want the $50 million to develop the whole province of Manicaland instead of Marange area only and are responsible for holding the release of more funds.”

The committee was not impressed by failure by the Marange team to explain what they had done so far with the $400 000 they had received as it emerged no single project had been implemented to date.

Wadyajena warned the team to be honest when giving oral evidence as they could be charged with contempt of Parliament if they falsified facts.

Of the $400 000 deposited, an amount of $28 079 had been gobbled up by the six trustees, leaving a balance of $371 921 in the Community Share Ownership Trust account. The trust account is said to have also accrued interest of $17 475 making the total amount received $417 000.

Chinaka was at pains to explain how the money was used, saying their expenditure amounted to $45 677 of which $345 was bank charges, $201 was stationery, $12 943 was for training, $14 404 was for travel and subsistence, $448 was for fuel and oils and $17 336 was for board fees.

MDC-T Dzivarasekwa MP Solomon Madzore said the figures were questionable and showed extravagance as there was a big variance where $17 336 was said to be for board fees yet calculations of their sitting allowances proved that they could not account for the other $6 000.

Chinaka said the board chairman got $280 while other members received $250 as sitting allowances. Wadyajena pledged to investigate the alleged Zanu PF bigwigs accused of interfering with the scheme.

Since their establishment three years ago, community share ownership schemes have torched a storm in most parts of the country amid allegations of financial abuse, resistance by some mining companies and interference by politicians.

Last October, the National Indigenisation and Economic Empowerment Board touched a hornet’s nest after it ordered the Zvishavane Community Share Ownership Trust to cede half of the $10 million given to it by Mimosa Mining Company to the Mberengwa Community Share Ownership Trust.

The proposal met fierce resistance from the Zvishavane community which argued that it was entitled to benefit from resources found in its locality.

COMMENTS

WORDPRESS: 7
  • comment-avatar
    John Thomas 4 years

    Thieves squabbling over unearned spoils. Distilled corruption mixed with peasant pig ignorance.

  • comment-avatar
    Panda moyo 4 years

    I think its common sense to be sure you have the funds to back up a cheque bfore signing it.more so if yu hav got dozens of accountants in your employ.the question is did one really intend to giv that much or was it just to save face on that day

  • comment-avatar
    LUCY 4 years

    The Chinese owned mines did not put any money in. Ironically the money put in by the other companies got misused so one would say in a way it was good the Chinese didn’t as that would have found its way away from its intended beneficiaries. If the Governemt had just given the companies a list of things to do to improve the communities around Marange e.g build schools ,clinics, even a hospital and roads I bet the thieves from ZPF would not have laid their dirty paws on the money.

    But then again where there is a will there is a way the ZPF thieves would probably have muscled their way in and grabbed tenders to build those roads or schools ensuring the money still ends in their pockets.

    there is no winning.

  • comment-avatar
    John Thomas 4 years

    This article is a classic of misdirection. The entire diamond resource has been stolen. An estimated twelve billion dollars gone and here we are discussing the the tiniest fraction of this money. Far far less than one tenth of one percent. It is this theft and only this theft that enabled ZANU to have the strength to continue governing. No peaceful campaign is going to dislodge these guys. They have bought the guns and bullets to murder most of the population should that be required.

    My hope is that the greed, stupidity and selfishness, as displayed in the article above, will eventually bring them down. An example of the stupidity part of this is how they have let most of the diamonds go at a fraction of what they are worth and how they have let the Chinese treat them like they are ignorant savages.

  • comment-avatar
    Nyoni 4 years

    The masters of deception greed pervasion decadence immorality etc etc ….just dont listen or learn. Talk about bobojans again.

  • comment-avatar
    Joe 4 years

    It’s called human folly. When you die your pockets are empty.

  • comment-avatar

    Mugabeland is now unbelievably ranked as even more corrupt than the evil kleptomaniacal regimes of equatorial guinea Angola drc etc