The ManicaPost
Rumbidzayi Zinyuke and Liberty Dube Business Reporters
While diamond miners topped the list of companies fingered for externalising foreign currency, more than 20 entities in sectors such as agriculture, manufacturing and education from Manicaland were included on the list bringing the total value of funds externalised from the province to about $163 million.
According to the list released by President Emmerson Mnangagwa this week, Marange Resources, Mbada Diamonds and Jinan Mining were among the top five companies that contributed to illicit financial flows.
Under the category of funds externalised through non-repatriation of export proceeds, Marange Resources externalised about $54,3 million, Mbada Diamonds salted away $14,8 million and Jinan Mining externalised $11 million.
Mutare Bottling Company was said to have externalised $16 802 while Dongo Sawmill allegedly externalised $10 816.
However, Mutare Bottling Company’s managing director Mr Allen Lang, said the company did not externalise any funds and they were working to regularise the matter.
“There was no externalisation of funds and we are working with our bankers to regularise the matter.
“We have communicated with the RBZ on this matter and note that it relates to legacy transactions,” he said.
Under the category of funds externalised through payments of goods not received in Zimbabwe, Anjin investments reportedly externalised $200 000, Mbada Diamonds ($198 251), Jinan Mining ($169 080), Quest Motor corporation ($16 517), Quest Motors/Nissan Zimbabwe ($44 080) and Golly Trading ($407 938).
Others include PG Safety and Glass ($57.295), Hotsperk Entreprises ($41.150), Golly Trading ($407.938), Madziro Commuters ($15.000), Allied Timbers ($99.376), MFS Group ($32.141), Afri Safety Glass ($28.036) among others.
Montclair Hotel and Casino was also on the list after it was reported as having externalised $31 080.
In the education sector, two schools in the province namely Knowstics Academy ($20.640) and Marist Brothers Nyanga High School ($25.093) were also listed.
Marist Brothers Nyanga High school head, Mr Clement Nyamandwe said all the school’s transactions were done above board.
He said the school’s inclusion on the list was a result of their bank’s delays in submitting the paperwork to the central bank.
“Yes, we saw the school’s name on the list but everything we did was above board. We bought a vehicle only that our bank, Banc ABC delayed to submit the papers.
“The Bill of Entry was yet to be delivered to the Reserve Bank of Zimbabwe but it is now there,” he said.
Efforts to get a comment from Knowstics Academy principal Mrs Edith Mukuwapasi were fruitless as her cell phone went unanswered.
An employee at the Academy contacted by Post Business said she was not qualified to comment on the matter.
Several other companies with names on the list declined to comment until they had clarified the issue with the central bank.
The RBZ has said it was ready to clear names of individuals and companies who would produce proof of declaration or repatriation of funds for their transactions.
