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Zimbabwe Needs “Accountable” Government to Manage Marange Diamonds

Charlotte McLeod
May. 06, 2013 10:35AM PST
Gem Investing

Nehandra Radio reported that despite the existence of the Kimberly Process, Zimbabwe’s Inclusive Government, which is expected to be dissolved within the next month, has had little success in devising a strategy to manage the country’s controversial Marange diamond fields. The Zimbabwe-based publication states that only a government with citizens’ interests at heart will be able to make positive changes to the situation.

Nehandra Radio reported that despite the existence of the Kimberly Process, Zimbabwe’s Inclusive Government, which is expected to be dissolved within the next month, has had little success in devising a strategy to manage the country’s controversial Marange diamond fields. The Zimbabwe-based publication states that only a government with citizens’ interests at heart will be able to make positive changes to the situation.

As quoted in the market news:

[F]ive years after the government’s takeover of the diamond fields, many questions remain unanswered.

For instance, the true identity of the companies mining in Marange remains a mystery. [Finance Minister Tendai Biti], who belongs to Prime Minister Morgan Tsvangirai’s Movement for Democratic Change (MDC) party remains in the dark as to where the diamond revenues are going.

Whilst President Mugabe has on various occasions spoken out against corruption, his sincerity in dealing with corrupt elements from his government is highly questionable.

What has emerged from Marange is the exclusion of both the local people and the general public from determining how the diamonds ought to be governed. A political solution is arguably the most logical answer to the Marange controversy.

The holding of a credible general election leading to the formation of a government that is answerable and accountable to the people can mark a turning point in Zimbabwe’s diamond sector.

Click here to read the full Nehandra Radio report.

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