via Zanu (PF) chefs, investors divert gem revenues | The Zimbabwean 9 July 2014 by Clayton Masekesa
Some foreign investors have lined their pockets through unscrupulous deals with connected Zanu (PF) individuals and ministers to plunder diamond revenue, says a local NGO.
In an interview on the side-lines of an Ethics and Accountability Forum organised by Transparency International Zimbabwe Farai Maguwu, theDirector of The Centre for Natural Resource Governance (CNRG) accused the Zanu (PF) government of stifling diamond revenue through the perpetuation of well-calculated and deliberate practices on negotiating diamond mining deals with foreign investors.
“The country has great opportunities for foreign direct investment but the unfortunate thing is that the type of foreign investors that we have right now are crooks. Our country is under siege from criminals masquerading as investors,” said Maguwu.
“There is money in Zimbabwe, but it is in the wrong hands.
The problem is in our government where we see individuals and ministers negotiate deals in their individual capacities so that they line their pockets at the expense of the country as a whole.
“We have seen officials and ministers making friends with the foreign investors, who are lining their pockets through our mineral resources, but not to the benefit of Zimbabweans. That is why you have seen a minister buying almost the whole of Victoria Falls,” he added.
The firebrand Maguwu said failure by the Zanu (PF) government to disclose ownership in the mining sector while conspiring with foreign investors to either deny or divert proceeds of community ownership schemes was proof that the indigenisation laws were crafted to benefit the political elite at the expense of the economy.
He urged the government to renegotiate mining agreements with foreign investors who had used the country’s political crisis to take advantage of its mineral wealth.
Maguwu said foreign mineral investments over the past decade had been highly controversial and of little consequence to employment creation and revenue generation.
“The indigenisation policy is a brilliant idea, but it has been politicised. The government should have consulted stakeholders and the people on the ground on how best it can be Crafted. It is unfortunate that one minister championed the invasions of companies and now the economy is bleeding. For us to move forward on indigenisation there is need for dialogue among business leaders, church leaders, civil society, trade unions, NGOs and the international community,” said Maguwu.
COMMENTS
Wow, I’m sure this is news to us all, right?
Not to belittle the fine work that this fellow does – at times it seems that he alone cares more for the welfare of the povo then the full Mugabe/ZANU-PF government, combined – however, nothing will change until there is a government that wants to govern for the good of all… not just the governing party. Instead, we have a government that cares more about retaining power then about the people it supposedly serves.
everyone knows this, so WTF can be done about ?
Indigenization can never be called a brilliant idea. Instead, in a globalizing environment, it is a hallucination of the worst order. China the fastest growing economy in the world abandoned indigenization long ago in order to allow for foreign investment to drive its economic prosperity. Zimbabwe is so small that we cannot afford this resource based affront to globalization. In any case what belies globalization is not resources. Technology is the new driver of development; period! Anything else does not wash. Not even this Maguwu drivel. i do not apologize for this view because it is a fact and facts are stubborn.
Looting/pilfering/diversion of state resources is the cornerstone of Zim-ASSET.
The thief should read his bible: if he has one. The thief brings a curse upon his house. To all the greedy, avaristic, corrupt, covetous thieves in Zimbabwe: you will be judged. Your ill gotten gains are going come down upon your heads. Repent!
If only people will know that soon or later they will die and leave all that on this mother earth they will learn to share and help shape a good future for the next generations.