Who Is Taking a Shine to Zimbabwe's Disappearing Diamonds?

Round diamonds worth an estimated U.S.$140 million have reportedly disappeared from the supposedly impenetrable Minerals Marketing Corporation of Zimbabwe (MMCZ) and Zimbabwe Consolidated Diamond Company (ZCDC) repositories. In her report for 2019 which was recently released, Auditor-General Mildred Chiri revealed that both the MMCZ and ZMDC cannot account for up to 350,000 carats of diamonds which were kept in their vaults.

Responding to Chiri's findings, the ZCDC management said that the company would in future engage a diamond stock controller to prevent such leakages, but the auditor-general said: "such loopholes are mostly a result of deliberate corrupt actions".


(File photo).

Don't Miss

AllAfrica publishes around 800 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.