By James Thompson | Sunday Times |
Diamond mining firms have been revealed by President Emmerson Mnangagwa as the biggest looters in Zimbabwe. The president issued a three-month moratorium to alleged looters and extended it by two weeks. He warned that those who did not heed his call would face legal action.
Indications from the published list are that most funds were externalised to China with numerous Chinese retail and mining companies also dominating the list.
Category 1 – illicit financial flows externalised through non repatriation of export proceeds – has African Associated Mines ($62-million)‚ Marange Resources ($54.2m)‚ Canadile Miners ($31.3m)‚ Mbada ($14.7m) and Jinan ($11m) listed as the top looters.
But none of the three categories makes any mention of major politicians as was widely expected. Zimbabweans took to Twitter to say the list was “underwhelming”.
However‚ there are some notable revelations such as that of gospel-musician-cum-politician Elias Musakwa‚ who allegedly externalised US$900-million to Portugal.
Musakwa’s known business venture is record label Ngavaawone Records‚ which he bought with the late former air marshal‚ Josiah Tungamirai‚ in 2007 from Gramma Records. He once worked for the Reserve Bank of Zimbabwe (RBZ) as a divisional head.
Category 2 – for funds externalised through payment of goods not received in Zimbabwe – is led by Ekusileni Medical Centre‚ a non operational hospital in the second largest city Bulawayo with US$3-million allegedly sent out of the country.