Archive

  • Press Release: In his 92nd-birthday interview on 3 March President Mugabe stated that the diamond sector had made $15 billion but the country had only received $2 billion from it and suggested various options for reforms. This came after the Zimbabwe Mining Minister announced on the 22 February that all diamond companies must cease operations with immediate effect after months of wrangling over the government’s proposal to merge all of the companies into one amalgamated entity. "It’s been clear for many years that Zimbabwe’s diamond industry needs to be radically reformed.

  • Zimbabwe’s President Robert Mugabe is sending his mines minister to Botswana to consult on the best way to enable the country's diamond resources to enable economic development. The countries have a frosty relationship as Botswana's President Ian Khama rejected President Mugabe’s re-election two years ago as fraudulent and has often commented on Zimbabwe’s political situation and the need for reform.

  • According to the Zimbabwe Independent, President Robert Mugabe has tasked the Reserve Bank of Zimbabwe (RBZ) to come up with ways to plug diamond leakages as government institutes desperate measures to increase revenues inflows that have been perilously dwindling. The RBZ reported to government that mining revenues alone could turn around the economy if leakages are sealed. Sources say Zimbabwe's cash situation is so tight that government is defaulting on various workforce costs.