Thursday, March 31, 2011

(TALKZIMBABWE) MDC-T secretly urging investors to leave - Bennett

COMMENT - The MDC's main tactic is to destroy the Zimbabwean economy and create a 'crisis', so they can step in with the 'solution'. Scott Walker, Roy Bennett, what's the difference (other than that Bennett actually killed people himself).

MDC-T secretly urging investors to leave: Bennett
By: ralph Mutema
Posted: Monday, March 28, 2011 3:23 am

THE underhand tactics of the Movement for Democratic Change have been brought to light after that party's treasurer-general, Roy Bennett revealed that they were secretly urging investors to leave Zimbabwe, while telling people in public that they were trying to lure them into Zimbabwe.

One of the company's that has been urged to leave Zimbabwe is London-listed Old Mutual. Bennett revealed that the MDC-T was against Old Mutual's investment in the Marange fields of Zimbabwe, and that the party was, in private, urging them to leave.

Because Old Mutual had decided not to take advice from the MDC-T, Bennett had resolved to 'go public'.

Old Mutual also has an 18 percent stake in Zimpapers – through Old Mutual Zimbabwe. The investment was made in the newspapers in pre-independence Rhodesia.

The newspapers include the state-run The Herald in Harare and The Chronicle in Bulawayo.

Article continues below

At a recent fund managers’ conference in Cape Town – Old Mutual corporate affairs director Crispin Sonn said Mining Minister Obert Mpofu and Finance Minister Tendai Biti had agreed the Kimberley process should apply to this state business venture.

Old Mutual confirmed its indirect involvement in the diamond mining industry.

Old Mutual Investment Group said Old Mutual “has an indirect interest in Mbada Diamonds of 1.5 percent via the South African recycling group New Reclamation”.

It explained Mbada Diamonds was a joint venture with the Zimbabwe government “that has less than 10 percent” of the Chiadzwa – a municipal district into which Marange falls – diamond fields.

“To date we have not received any proceeds from this indirect investment.”

However, Bennett and the MDC-T has been trying to push Old Mutual to leave Zimbabwe.

Speaking at the same fund managers conference, Bennett said there was now “a total abuse of the Kimberley process… there is, in fact, a total lack of due process, people taking autocratic decisions.

“(Finance Minister) Tendai (Biti) has had his life threatened (by war veterans) on the basis of those diamonds.”

“The whole thing stinks. Old Mutual, a listed company, should not be involved with the 'illegal' dealing of diamonds.”

He said the MDC had urged Old Mutual “quietly behind closed doors” to “quit its blood-stained investment… the firm has not listened, so we now air our grievances publicly. Old Mutual and its partners have benefited from the daylight robbery of mining rights”.

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