SECOND REPORT OF THE PROTFOLIO COMMITTEE ON MINES AND ENERGY ON THE DIAMOND SECTOR IN ZIMBABWE FOR THE PERIOD 2009 – 2016
|File Size||543.94 KB|
|Create Date||June 13, 2018|
|Last Updated||June 13, 2018|
In 2016 the Former President of Zimbabwe, His Excellency Cde Robert Mugabe made announcement to the nation, during his birthday interview, that over 15 billion dollars’ worth of diamond revenues could not be accounted for, at a time the country was experiencing severe liquidity challenges and economic contraction. In line with Section 160 of the Standing Orders of Parliament, read together with section 119 (2) of the Constitution, the Committee on Mines and Energy conducted an enquiry to get a deeper understanding of the diamond sector in Zimbabwe focusing on the investors and investments made, the monitoring and tracking systems on production and revenues, the marketing of the diamonds as well as the legal and policy frameworks regulating the industry. The discovery of diamonds in Marange created a huge expectation among the ordinary citizens to the extent that the industry would contribute towards the eradication of the triple challenges facing the country, namely, unemployment, poverty and economic recession. The enquiry will outline the challenges experienced and the lessons learnt so that the diamond sector can emerge from the murky waters and take its place among the key minerals that will make meaningful economic and social contribution in the country.