Categories: Stories

Parliament calls on government to investigate Kasukuwere over Marange–Zimunya Community Share Ownership Trust within 14 days

 4.3.2 DMC further highlighted challenges of weak coordination between relevant authorities, trustees, and mining companies to see through the successful implementation of the Trust fund. It was the view of DMC that USD 1.5 million per company should be spread over smaller payments rather than being paid at once. The company reported that it had relocated 50 families, yet from the progress reports on relocation provided by the Provincial Administrator's Office, had only constructed 30 houses and relocated 30 households, out of a target of 114 households. The company also informed the Committee that it was involved in sinking boreholes, the supply of seeds, fertilizers, food packages and cash hand-outs, yet during public hearings, such schemes were said to have stopped as far back as 2012.

4.4    Anjin Investments

4.4.1 On 07 March, 2014 Anjin Investments made its presentation to the Portfolio Committee on Youth Indigenisation and Economic Empowerment. The Committee was informed that the company was compliant with the Indigenisation Act being a joint venture company between Afec and Matbronz on a 50:50 basis. On the payment of the pledged USD 1.5 million towards the Marange-Zimunya Community Share Ownership, the company reported that it was advised by the then Minister of Youth, Honourable Minister Kasukuwere that payment of the USD 1.5 million was supposed to be paid over a period of five years, rather than a once off payment. The General Manger, Public Relations, Mr. M Machacha emphasised that Honourable Minister Kasukuwere knew there was no money to honour the dummy cheque but insisted on the President presenting the said dummy cheque.

The Committee heard that the company was not making its payments towards the Trust Fund, because when the pledge was made, the economic situation was 'good' and that the company was now facing cash-flow challenges and decreasing productivity and sales were declining. The company also informed the Committee that in spite of the decline in productivity and sales, it had built a total of 471 houses, primary and secondary schools, clinics and a shopping centre and water reticulation for the villagers’ relocation to ARDA-Transau at a cost of USD 80 million. Other Corporate Social Responsibility projects were said to include the provision of treatment to 800 relocatees suffering from eye cataracts and sending students to study in China.

4.5    Mbada Diamonds

4.5.1 The Committee was informed that since its inception, Mbada Diamonds had exceeded the USD 1 billion mark in its turnover and that the bulk of the money was remitted to the national fiscus. The company stated that at one point Mbada Diamonds was contributing USD 15-20 million a week into the national fiscus. The Committee established that Mbada Diamonds had not pledged any contribution to the CSOT but stands ready to contribute to the fund to help improve the lives of people in the community. The Committee also noted that the USD 200, 000 dollar contribution Mbada Diamonds made to the CSOT was under its Corporate Social Responsibility programme.

4.5.2 The Committee gathered that the Chairman of Mbada Diamonds, Dr Mhlanga, was one hundred percent certain that he never pledged anything to the Trust and that Mbada Diamonds was not represented at the launch. He also dismissed as malicious fabrication of the rumour that Mbada Diamonds gave Mr. M. Madiro cash or vehicles or any gift whether in kind or otherwise.

Continued next page

(630 VIEWS)

This post was last modified on %s = human-readable time difference 9:03 pm

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

Charles Rukuni

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.

View Comments

Recent Posts

Is Zimbabwe now on the right track?

The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…

April 30, 2024

Watch: RBZ governor warns those selling ZiG at 20:1 could be buying it at 10:1 in June

Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…

April 29, 2024

US loses its place as most influential power in Africa to China

The United States lost its place as the most influential global power in Africa last…

April 27, 2024

Zimbabwe central bank chief says street forex dealers cannot destabilise the ZiG

The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…

April 26, 2024

Zimbabwe International Trade Fair plans to turn exhibition centre into commercial complex

The Zimbabwe International Trade Fair (ZITF) has announced an ambitious long-term plan to turn the…

April 25, 2024

ZiG falls against US dollar

Zimbabwe’s new currency today fell against the United States for the first time since its…

April 25, 2024