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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Zimbabwe seeks fund to manage weath from diamonds

Posted on 02 March 2012

Zimbabwe needs to set up a sovereign wealth fund for revenue from its Marange diamond fields, Finance Minister Tendai Biti said.
There is a “clear gap” between gems being sold in Zimbabwe and the amount of money reaching government, Biti told a conference in Johannesburg today. He said it wasn’t “proper” for Zimbabwe’s state-owned mining company, the Zimbabwe Mining Development Corp., to manage the southern African nation’s diamond production………………………………………….Full Article: Source


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