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RBZ Asked To Explain US$295 Million Missing From Gold Exports To UAE

2 years agoTue, 28 Mar 2023 12:04:53 GMT

RBZ Asked To Explain US$295 Million Missing From Gold Exports To UAE

The Reserve Bank of Zimbabwe (RBZ) has been asked to explain the missing US$295 million from gold exports to the United Arab Emirates (UAE) in 2021.

RBZ reported that Zimbabwe exported 28 468kg of gold to UAE for US$1 604 058 775 in 2021.

However, UAE reported that it received 34 340kg of gold from Zimbabwe for US$1 898 899 693 in 2021.

This means US$294 840 918 is unaccounted for or RBZ underreported its exports by that figure.

In a Twitter post seen by Pindula News, Team Pachedu, an online political activism group, demanded to know how could UAE import more than Zimbabwe exported. Said Team Pachedu:

Click here: Pindula WhatsApp Channel
wa.me/channel/0029Vb4GVea90x2nCSDImS1b

Dear @ReserveBankZIM
You reported that Zimbabwe exported US$1.7 Billion gold worldwide in 2021, however, United Arab Emirates says that they imported US$1.9 Billion gold from Zimbabwe in 2021. How does UAE import more than what you exported? Explain the discrepancy!

This comes as authorities are under fire for alleged gold illicit trade after some government officials and offices were named in Al Jazeera’s documentary – Gold Mafia – as involved in gold smuggling operations.

Episode 01 of the documentary was released last week, episode 02 is expected this Thursday.

In the documentary, Tendai Biti, a former Minister of Finance and Economic Development, claimed that Zimbabwe was losing gold worth about US$1.2 billion every year.

Government officials are denying the allegations.

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67 Comments

Anonymous · 2 years ago

This is just the tip of the iceberg Alj needs to do more on Zimbabwe's natural resources eg Diamond's Zimbabwe has the resources to be part off the first world if only those WHO help themselves returned 1/4 what they took out off our Zimbabwe

Anonymous · 2 years ago

Where is Diamond.?

Anonymous · 2 years ago

👁️👁️

Tateguru · 2 years ago

UAE pamwe irikushatisa zita reZimbabwe ke? Kkkkkk pasi pano pane hondoka! MaUnited anogona kungofanana aya UAE neUSA good or bad

Ziggy · 2 years ago

This is a lie ..nothing but propaganda..there is no missing money.. believe me... Zimbabwe is prosperous nation..is good nation..is job well done..is very Amaze..nothing true come from Aljazeera...only lies corrupt by their evillest West...mm.. believe you not this lie propergandanda lie is lie nommater raped up in English..lie is lie..thats what i know from live birth

Anonymous · 2 years ago

😂😂ndomaonero akewo,vmwe tipeiwo maonero enyu

Anonymous · 2 years ago

😹😹😹😹😹

Chimbwido · 2 years ago

“we (will) henceforth be no more children, tossed to and fro, and carried about with every wind of doctrine, by the sleight of men, and cunning craftiness, whereby they lie in wait to deceive;” — Ephesians 4:14 (KJV) Let's pray forr Zimbabwe....Mwari anotinzwa...

GG · 2 years ago

Ubert Angel used the same template used by the foreign minister of Macedonia to deny the sell of citizenship to wealthy foreigners when Al Jazeera cornered him.

#Angel Ubert Must Go · 2 years ago

I urge all Patriots to advocate for the dismissal of Angel Ubert as Plenipotentiary, Ambassador at Large. It is evident, he has brought the country's image into disrepute. We will advocate for a petition using the Angel Ubert Must Go hashtag.

Anonymous · 2 years ago

Haaa Aya mazanu ma1. Pakuswero Vapopotera Pano tikaita effort kupinda mu voting room toisa x pakanaka the better . Probrem yemazimbo tinowawata zvisina action. Kwaita 14billion diamond scandal tikangopisa pa social but zero action saka haaa ticharamba tichibirwa

Anonymous · 2 years ago

Amai vangu nababa varikurima chibage in good faith kumusha vachiendesa kuGMB and getting nothing. Come voting voisa paZanu trusting kuti nyika irikukanganiswa nemasanctions uye putting an effort kuti tigadzirise. I'm a card holder wemusangano by that sponsoring musangano. I voted since 2000 voting Zanupf kusvika 2018. What do we get, Ubert Agel and Rudland enjoying our efforts. Now I'm failing to pay exam fee for my form 4 kid and fees. Zanupf voting zvakwana hamuchazooni futi vote yangu. Musazoti hatina kutaura. Good day Zimbabweans.

Anonymous · 2 years ago

Hanzi newoyo muchaitei. Hohoho saka muchiuya kuma rally muchingoti pamberi thinking hatina chekuita. Zvino ndikuudze, totangira pakuti isu vatsigiri veZanu tovhotera Chamisa ndipo uchawona kuti Ubert Angel haasi prophet

Jack Roller · 2 years ago

ED is now sleeping with eye open because pakaipa

.. · 2 years ago

its Tuesday today aljeezira ataura episode 1 asi hapana action.

Billey · 2 years ago

Ko Jezera akangori atura wani paEpsode 1,,gore rino iro rino hazviperi mushe

Dispenser · 2 years ago

E second episode is coming on Thursday.

Anonymous · 2 years ago

Isu maZanu kusumudza chibhakera chete kupururudzira vanoba. I'm a zanu card holder but zvakana mashefu. Ini ganditi bhora musango asi mugedhi chaimo. CCC is gauranteed my vote. Chamisa put your things in place, takawandisa.

Jah 🦓 Tsvarie-07 · 2 years ago

Those who received say it was more than what we say we exported and the question is why??? Leakages are not part of the consignment nhai guys 😀

coni · 2 years ago

can I prophecy here as I was in the realm of the spirit God showed me something I said to myself how can that be and the spirit said continue starring done loose focus I started seeing a great prophet turning to be the play ground of the devil and then he started acquiring money using his post and church as I was watching things started to backfire for this prophet..pane vamugara dare vakati atichamuda muno visa rake raitwa cancelled and he was put under sanctions list I saw him walking the streets of harare wondering without any one to look after him his last days where difficult let's pray for no Neva mind vanhu vangade kuziva kuti ndiyani iyeye ndiyeka uyu main actor we gold mafia episode one aina Akusurira na rushwaya

Anonymous · 2 years ago

Varikuti hee UN hee AU are just looking while human rights are being abused in Zimbabwe murikutopenga henyu.muno hamuna zvose izvozvo kutoyema henyu kwamuri kuita uku that's y those organisations are currently concerned about the happenings in East Central and West Africa.

Gandaganda · 2 years ago

Ziyakhala ke manje. Brace up for the lies

CHAWABVUNZA · 2 years ago

How is will RBZ Governor, John Mangudya, explain this anomally where RBZ exported less than what was received by the receiver ? MrJohn Mangudya has a lot to explain to me nation. [ THE BUSH LAWYER4CCC].

Tateguru · 2 years ago

Ah, I wish waMagaisa was here to say it all.

Dubai Gold Trade · 2 years ago

The UAE does not have a proper system for recording the origin of imported gold.Gold is being smuggled from any African country that has an airport. The smuggled gold is brought by couriers in their luggage. The gold to customs and there is no tax payable. The courier fills and signs a Gold Import form on which they self report claims about the country of origin. Customs do not bother to verify.Armed with the Gold Import form you are free to sell the gold to the Dubai souk market.

. · 2 years ago

*They declare the gold to Customs

watchdog · 2 years ago

we will see the truth but we will never touch them

Miss Jessica · 2 years ago

fatso urimupengo mhengeramumba go find a life

Anonymous · 2 years ago

United Nations and SADC are watching whilst human rights are abused daily in zimbabwe,

Al jezeera is exposing a lot · 2 years ago

thanks to the undercover journalists ndosaka mangudya aive mu panic mode coz he knows he is not Clean as well

Anonymous · 2 years ago

They always rig elections, now stealing gold and other minerals, what's left now, I hope they will not abduct Chamisa to unknown grounds, but even if caught, it seems the whole world is afraid of zanu pf, can't understand the role of SADC, and the head of SADC is just watching, united Nations itself seems scared to monitor Zimbabwean elections, in short I don't understand SADC and UN,

· 2 years ago

The people should not expect help from outside, they the people should deal with the problem themselves. We need new leaders let's vote wisely.

Anonymous · 2 years ago

Iwewe wataura mhani iwe,oh sandho👊

Cde · 2 years ago

Evading sanctions kudii ipapa ,ingogumira pakuti mari haigutike nembavha idzi

sancho · 2 years ago

jazera iyi zvayakaoma

Patriot · 2 years ago

Kana ukazopindawo muhofisi uchazonzwisisa kuti mari haigutike. Plus this is a way of evading sanctions

Jim Munkuli · 2 years ago

vote for change Chamisa chete chete ngaapinde haake mkomana CCC ❎

Anonymous · 2 years ago

Iwe @Patriot wakambopindawo muhofisi ukazvinzwisisa here izvozvo?

Dispenser · 2 years ago

Ed and his team have a case to answer. I m wondering, why is Chiwenga so silent.

· 2 years ago

Well if you are also part of the gang you keep quiet so as not to draw attention to yourself. This can has plenty of worms waiting to be exposed.

Al Jazeera The Truth · 2 years ago

Many thanx to the Al Jazeera Investigation Crew. Methinx ZRP has a lot to learn here...

· 2 years ago

ZRP is useless.

Inspector Gadget · 2 years ago

the $ 295 million variance is the yawning deficit between what UAE paid and the value of gold sent by the RBZ officially. In other words , the difference accounts for private gold sales btwn Zim & UAE the question is... who sold that gold? Ubert Angel & Henrietta Rushawaya?

Al J · 2 years ago

That's what we need to find out!!

Anonymous · 2 years ago

The government will just say Team Pachedu is being sponsored by America to tarnish the image of the RBZ and the country to advance their regime change agenda 😂😂😂😂

Advocatus · 2 years ago

Oh ! It never rains but pours! let's hear how Mangudya will wriggle out of this one!

· 2 years ago

ndange ndichiti ndeimwe channel,not this so called @team pachedu

Chaotic Dubai · 2 years ago

@Advocatus Some basic info: 1. Not all gold produced in Zimbabwe goes to Fidelity Refineries. There is no way RBZ can account for gold which is not delivered to Fidelity Refineries. 2. Our borders are porous so gold is smuggled to neighboring countries 3. When the gold lands in Dubai,you declare to Customs, no questions are asked about the origin of the gold.They accept whatever origin you put on the Gold Import form.

Anonymous · 2 years ago

@chaotic Dubai . Its claer that your logic is chaotic . Dubai says they imported more gold than what RBZ claims to have exported .this porous border crap is irrelevant here .

Anonymous · 2 years ago

Exactly the point of Team Pachedu @Chaotic Dubai That's where the likes of Henrietta Rushwaya and Angel come in using their diplomatic bags and probably with the blessing of the powers-that-be

Anonymous · 2 years ago

Dude UAE said they bought gold from RBZ not the smuggling thing. Figures should tally, these were official transactions! Some kindf stealing is juss crap, it's shows incompetent thieves at our CB, they should up their game 😆

Anonymous Nonsense · 2 years ago

Did the UAE say they received all the gold from RBZ or from Zimbabwe? Check what Rwanda claimed they exported to UAE and what UAE reported as imported from Rwanda.