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Chinese company taking all Diamond money – Biti

Published: May 18, 2012

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A Chinese company, Anjin, is taking away all the proceeds from diamonds, not accounting for them, resulting in not even a cent coming through to government, Zimbabwe’s Finance Minister Tendai Biti has said.

Diamond revenue has been under-performing since January 2012 raising fears there could be a parallel government in place, the minister who is also a qualified lawyer said.

Presenting his state of the economy report for March 2012, Biti, said revenue collection amounted to US$287.9 million against a target of US$320.2 million, whose shortfall emanated from the under-performance of diamond revenue.

Zimbabwe Minister of Finance, Tendai Biti

Diamond funds not coming to government - Biti

“There are challenges of opaqueness. As Ministry of Finance, we fear that there might be a parallel government in respect of where the revenue is going and not coming to Treasury. This economy needs every resource it can get including diamond revenue.

Diamond revenue has been under-performing since January 2012, with only US$30.4 million received by treasury for the period January to March 2012. This is against a target of US$ 122.5 million,” he said.

Hon Biti slammed Anjin for allegedly not remitting any revenue yet it is the biggest mining company in Marange.

“There are four major mining companies in Marange. One of these companies, Anjin, has not remitted a single cent to Treasury. The Constitution of Zimbabwe is very clear: all fees, taxes and other sources of revenue in Zimbabwe shall be paid into and form one Consolidated Revenue Fund (CRF), so the constitution is clearly being breached because not every cent is being accounted to the CRF. We bear the brunt because everyone looks at the Ministry of Finance, yet people do not look at where the money is coming from,” he said.

MDC-T maintains that, there be transparency in diamond revenue as this will turnaround the face of our country’s economy. Every Zimbabwean should benefit from the proceeds of the diamonds in jobs, technology, infrastructure and investment.

Hon Biti said the economy is likely to suffer a decline in value due to the failure of Treasury to realise budget revenue targets, reduced demand for export commodities which affects the overall Gross Domestic Product (GDP) , the rising imported inflation against the background of high oil and global food prices and the general decline in maize production.

The minister said there was a disaster in the energy sector with unresolved challenges at Hwange thermal power station where the generating units have outlived their lifespan by 21 years.

“The plants should have been replaced and new generation plants put in place in 1990 but nothing was done. There is need to put up two new generators in Kariba South to increase the generation capacity,” he said.

On inflation, Hon Biti said for the month of March, there was a downward reduction of inflation and the month-on-month inflation slowed down with housing and education continuing to be major inflation drivers.

He, however, said the wage bill continues to gobble 70% of the total revenue and deprives government an opportunity to attend to other obligations like health, education and recurrent expenditure.


WPSN comments

19 Comments on "Chinese company taking all Diamond money – Biti"

  1. Comrade Naked on Fri, 18th May 2012 9:25 am 

    Kikikikikiki the so called educated maShona selling the country to the Chinese n running away to seek refugee at Methodist Church, when are u going to learn that u are not running ur dirty country

  2. Bla Miki on Fri, 18th May 2012 10:12 am 

    Biti is part of a committee assigned by government to oversee the operations, sales and income realised from the diamonds. He should stop the blame game and act upon the said company.

  3. TETE VANESHANJE HAVAKURI on Fri, 18th May 2012 11:23 am 

    Handiti makati hamudi maBHIRITISHI mukati maZHING ZHONG ndivo hamadzenyu? manje muchachema gore rino. Those chinese don’t like–in fact they hate black people. You will never get a penny from them. They will build you a cheap school, hospital or donate a very small amount to keep you quiet. Meanwhile upfumi hwenyika hwuchibuda kuenda kuChaina.
    So?

  4. CHANDO KUPISA on Fri, 18th May 2012 11:42 am 

    Vana ***** kungohumanahumana chete chamunoziva ne Economics chii? Its not like going to rescue someone from prison.Stop expossing your ignorance and if i were you i would have left this ministry by now because its proving to be too big for a mere lawyer and its not like just waffling in a court of law. That is the problem of having people who pretend to know, he wants to blame everyone except himself.Go back to Malawi they probably need your services there.

  5. Cedric Sibanda on Fri, 18th May 2012 12:25 pm 

    Let these shona idiots all have a taste of their own medicine! Let their new Eastern Chinese friends loot and plunder the resources along with their Russian and Israeli counterparts! From what I remember our fellow white Zimbabwean brothers regardless of whether they were in farming, mining, tourism or manufacturing re-invested all their profits into growing their businesses as opposed to looting it and keeping it all outside the country in foreign bank accounts like all this scum are doing. By scum I am also referring to these shona savages who are in cahoots with their new Eastern friends. Absolute savagery – they should all be hung for committing treason!!!

  6. Chasura on Fri, 18th May 2012 2:30 pm 

    Muchasura chando

  7. Bla Miki enemy No1 on Fri, 18th May 2012 2:58 pm 

    The stumbling block is Zanu pf the Chinese are eating and looting together with zanu so Bla Miki and Chando whatever shd just shut up.The money is being resrved to finance Zanu’ terror campaign on th fouthcomin election

  8. Greyhora on Fri, 18th May 2012 3:27 pm 

    This is sad, really sad…

  9. CHANDO KUPISA on Fri, 18th May 2012 3:33 pm 

    I will be flying in the next 2hrs(GMT) from Beizhing to Shanghai for a weekend.

  10. Tokolosh on Fri, 18th May 2012 4:40 pm 

    Told you so, it is not just diamonds the Chinese are after ! they want land for their population over spill. What will they name Zimbabwe when it is fully re colonized ?

  11. Anonymous on Fri, 18th May 2012 6:36 pm 

    Machina kunyika kwenyu zvinenge zvimabhanzi kk kk

  12. Bla Miki on Fri, 18th May 2012 11:39 pm 

    Enjoy Cde Chando, for a change l’ll be in Epworth at Nga-aa Bar. Ko pazerwe ndipo pedu chaipo timu hombe pfacha paepaton pemdc apo!

  13. Chimota on Sat, 19th May 2012 6:14 pm 

    Machindarume ari kunakirwa zvawo vana ***** nana Naked vachingohumana .Ini ndiri kumbo nwisa ma **** doro pa Cape 2 Cairo mu Byo .Ndivana Sivare vasazo poshera mota dzedu nematombo BOSSO yarohwa ne Dembare nxt wknd

  14. Shoko on Sun, 20th May 2012 12:55 am 

    Speak to that double traitor MPOFU he has a lot to do with this…we will hang him high enough to see beijing bloody sell out!

  15. duster on Sun, 20th May 2012 7:36 am 

    people like blamiki and chando kupisa are never serious.What do you use to think? Biti complained long ago that Diamond revenue is not getting into state coffers.Instead of blaming the minister of mines and Zanu pf for this you now blame the wrong person.Obert Mpofu is now buying a bank with this money and you don’t say anything but you blame someone who is trying hard to find out where this money is going to. Who signed the mining deals with these Chinese(Mines minister & Zanu pf)Remember Zanu and Mugabe said they will take the and pay the teachers directly without going through treasury.This is the result .What ever Zanu puts their hands onto becomes disaster.i hope we will have people with serious views next time

  16. duster on Sun, 20th May 2012 7:46 am 

    Why is the President quite about this ,maybe this is the money that is being sent to Bona in china. How can a president keep quiet when all this is happenning. The kimberly people must intervene and set a commission of enquiry before we have blood diamonds.then you will hear mugabe talking about being sovereign state. These thives they have destroyed our beloved country. i bet you Mugabe knows where this money is going to which is why he is silent

  17. mwana wevhu on Sun, 20th May 2012 8:40 pm 

    i think the only solution we have got left is just all zimbabweans to march into all cities and towns in zimbabwe.yes the army and police il be violent towards the people but for us to rid of these aliens called zanu pf blood has to be spilt the same way blood was spilt to gain independence from the rhodies.blood and violence is the only form of communication they understand so if all talks fail,which they have dismally,we r laft with no option to take arms my fellow bothers and sisters.we cant jus sit and watch these idiots plunder the nation into further turmoil tinosvika riini tichingoti its going to get better mangwana and the country is goin further down the gutter???

  18. mwana wevhu on Sun, 20th May 2012 8:52 pm 

    machina man aya havana kana nebasa nezimbabwe.they jus came to loot,look at wat they have done for africa since they came over…absolutely nothing.they sell u crap products that pack it in after a few months and u go back to them again cause they cheap!take a good long hard look at wat they did to zambia and malawi,the trains they sold o gave to them r jus now stationary with no parts n the textile industry yezambia they f****d it up they jus bought it so that they can shut it down for them to monopolize the sector and put the natives out of a job!

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    We have formed our special style in all kinds of thermometers and other instruments, such as Digital thermometer,Digital Timer, etc. The products are sold to Germany, U.S.A.,Japan,south koren,England and so on.
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