Govt begins hunt for missing $15 billion

MINES and Mining Development deputy minister Fred Moyo has revealed that the government is undertaking an audit to put closure to the missing $15 billion in diamond revenues.

BY NQOBANI NDLOVU

President-Robert-Mugabe
President-Robert-Mugabe

President Robert Mugabe in February shocked the nation when he disclosed that nearly $15bn in expected diamond revenues had disappeared.

Despite the disclosure, the government has not shown any appetite to follow up on the matter, attracting criticism and scorn from opposition parties.

Moyo said his ministry had begun investigations into the matter.

“The issue of the $15bn was mentioned by those that are in Cabinet and the Executive, that is, His Excellency, the President,” he told Senators recently.

“At our level, as directors and deputy ministers, we have not been tasked to do anything, but what I can say is that we already have our programme, as a ministry, where we are carrying out an audit using an international company.”

Moyo was responding to a question from Senator David Chimhini (MDC-T) on whether the ministry had “put in place, a mechanism to find closure to the question of the alleged missing $15 billion from Chiadzwa”.

Moyo said the ministry had instituted an audit into the issue, but insinuated that the missing money was not as much as $15bn.

“It is normal practice for companies to reconcile their activities and geology that we had predicted and the geology that came out — the minerals that we had estimated, the minerals that came out and the prices that we had estimated,” Moyo explained.

“That audit has been put in motion, but the $15 billion — talking as an engineer — it is quite a general statement and I am not sure where you will be starting from, because you say $15 billion or saleable equipment of what was in the ground or what was mined. So, I am not too sure what that figure was referring to.”

Zimbabwe is rated among the most corrupt countries in many surveys ranking graft trends worldwide.

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7 Comments

  1. Electioneering mari hapana yakatorohwa evidence is there to see. The bulk of it went outside Zimbabwe some of it to facilitators in line ministries and the hierachy.You could see people getting rich overnight others almost buying entire towns.Better to enlish makorokoza at list during their time the country was liquid, you could see the money circulating..This is the only country were security service sector deviate from their core mandate and involve themselves in mining activities. The whole situation has to be revamped period, investigations will yield nothing instead more funds will be wasted as the investigators will themselves be compromised because vakatodyawo.

  2. Wasting our money by engaging internationals to investigate the thieves you already know. Just ask police to start investigations on the suspects. This is what we call politiking because elections are drawing near.

  3. Actually the figure is more than $15 billion, if we consider the multiplier effect of Chiadzwa diamonds in countries where the stones have been stockpiled. China and India have generated value upwards of $50 billion from the stones they have already polished, employment creation, and cash circulation in their countries. They still have significant amount of our stones locked safely in their vaults, which they will release slowly to prop up their foreign exchange reserves and economies. So yes, we were robbed, and at least the money which is stashed in offshore accounts should be recovered such that we complete Hwange thermal power station upgrades, Kariba and Batoka hydro projects and upgrading Beitbridge- Chirundu highway and revitalize the Beitbridge border post…that’s all we need for now. Of course criminal prosecutions will then be pursued taking into account the money which the perpetrators would have repatriated back to the country.

  4. The dying goblin stole the money, he has been looting Zimbabwe since he took over power from Ian Smith. Just watch the investigation will go nowhere !

  5. guys just look at muhlanga in south Africa he is made so much money building mansions and he was the chairman of mbada , his daughter was the CEO and her husband was head of procurement like seriously

  6. A goblin will remain a goblin. It will never develop a feeling of love. Ko achiri munhu here?

  7. As an engineer I am ashamed to be of the same profession with this engineer, if indeed he is?

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