Misappropriation
Zimbabwean government sources said the Mining Development Corp. board is
accusing the four of looting funds under the pretext that they were setting
up a diamond mining venture in the controversial Marange field
Gibbs Dube | Washington 16 August 2010
The Zimbabwe Mining Development Corporation has suspended the company's
chief executive officer and three other top managers alleging the
misappropriation of US$40 million in proceeds from gold and diamond sales.
Government sources said Chief Executive Dominic Mubayiwa, Finance Director
Robert Karemba, Group Technical Manager Albert Chitambo and Corporate
Secretary Tichaona Muhonde have been placed on forced leave.
ZMDC Chairman Goodwills Masimirembwa declined to comment.
The sources said the board is accusing the four of looting ZMDC funds under
the pretext that they were setting up a diamond mining venture in the
controversial Marange field in eastern Zimbabwe.
They said that following the suspension of the four executives, police have
been called in to probe the alleged theft of the gold and diamond proceeds
from various ZMDC mining activities.
The sources said the investigations will also focus on the alleged theft of
US$30 million which the company earned from diamond sales between October
2008 and April of this year.
Parliamentary Committee on Mines member Moses Mare told VOA Studio 7
reporter Gibbs Dube the investigations are especially welcome as the
Ministry of State Enterprises is trying to rein in corrupt parastatal
executives.
Political and economic commentator Rejoice Ngwenya said the investigations
risk being derailed by ZANU-PF as it will fight for the reinstatement of the
executives, who are party functionaries.
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