Mugabe may have to swallow his words


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President Robert Mugabe may have to swallow his words about using the Dubai Diamond Exchange to sell the country’s diamonds. Last month, he said Zimbabwe would continue using the DDE because: “You do not have the evil heart of Europe…We want to be partners in trade. We want partners who regard us as human beings, partners who share our misfortunes and appreciate that we want to develop also in the same way that we appreciate their own development”. Zimbabwe had just sold nearly 400 000 carats realising an average of US$76.91 cents per carat which was slightly higher than the US$72.96 realised at the second auction in Antwerp. But the money from Dubai, nearly US$30 million, has not been transferred to Zimbabwe more than a month after the auction. And everyone is crying- Finance Minister Patrick Chinamasa, Mines Minister Walter Chidhakwa and the mining companies themselves. Chinamasa, under pressure because of the liquidity crisis in the country, says Dubai has failed the test. One Sunday Mail reader quipped: “moti vanotengesera kuAntwerp vanopenga here?”

(8 VIEWS)

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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