You may be aware that Zimbabwe has finally been allowed by the Kimberly Process Diamond marketing syndicate to sell its stockpile of alluvial diamonds. It is estimated that Zimbabwe currently has diamond stocks worth about US2,5 Billion. It is also estimated that the diamond find in Zimbabwe at the moment is the biggest find in over a century. Basically, Zimbabwe's find rivals or perhaps exceeds the Kimberly (South Africa) diamond fields which largely built South Africa's economy to what it is now.
When the fields were discovered around 2007, villagers dug out huge trenches and sold diamonds literally on the streets. A few wise men instantly became millionaires. The government reacted swiftly and deployed the army. Rumours surfaced that there were brutalities and wanton human rights abuses. The international community immediately slammed us with a selling and marketing ban. Since then we have been stuck with the gems.
Our economy has been struggling for the past 10 years. Presently, our GDP was estimated at US2 Billion at the beginning of the year. It has since been revised downwards to US1,4 Billion. At peak, our GDP hovered around US6 Billion.
The question is, with our current situation, should we be allowed to sell or not?
Doing 'La-pour' in the City of Accra - When I was a curious, capering child street-sauntering at Achimota School, there was an obliging, octogenarian gardener with no known name. People called h...
1 year ago