GONO DEFENDS SAUDI GOLD DEAL, SLAMS FALSE CLAIMS

Yesterday, former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono responded to serious accusations made by Zanu PF spokesperson Chris Mutsvangwa. Mutsvangwa claimed that Zimbabwe’s gold reserves were stolen and sold to Saudi Arabia without payment. This has caused a lot of controversy in the country. Gono, however, has strongly denied these claims, saying they are false and misleading.

In a public statement, Gono explained that there was no theft involved. Instead, he said it was a carefully planned financial deal that took place in 2006. The deal involved $150 million worth of jewelry with a Saudi company. This was part of a larger plan to secure $600 million in credit from a South African bank. This money was needed to help Zimbabwe buy important items like electricity, fertilizer, and fuel during a difficult time when the country was under tough Western economic sanctions.

Gono took over the RBZ in 2003 when the country was struggling financially. The sanctions had made it hard for the government to run properly, and Gono said they had to find creative solutions to deal with these challenges. This deal with Saudi Arabia was one such solution.

Mutsvangwa, who was the Zimbabwean Ambassador to China at the time, was not in the country during the transaction. Gono believes this is why Mutsvangwa has misunderstood the deal. He thinks Mutsvangwa did not have all the facts because he was not involved at the time the deal happened.

Gono also criticized how much public money has been wasted on investigations into these false claims. The Zimbabwe Anti-Corruption Commission (ZACC) has already investigated the matter. They interviewed both Gono and the current RBZ governor, John Mangudya. After their investigation, ZACC concluded that there was no wrongdoing. Gono pointed out that such baseless accusations hurt people’s reputations and could cause a lot of damage.

He also made it clear that no gold reserves were lost during his time as governor. Every transaction made during his time was audited by well-known international companies like Deloitte & Touche and KPMG. These firms made sure that everything was done legally and correctly.

In his statement, Gono called for respect for former governors and the difficult decisions they had to make. He said it is important for the public to know the truth, especially about historical financial matters that have been examined and audited by professionals. If people are still confused about the deal, Gono suggested that a Commission of Inquiry could be set up. This Commission would investigate the claims openly and fairly, giving everyone a chance to understand what really happened.

Gono ended his statement by reflecting on the tough times Zimbabwe went through during his time as governor. He explained that the Saudi gold deal was carefully planned to help the economy by using the country’s gold reserves to bring in much-needed foreign currency. Even though it was a difficult period, the deal was structured in a way that would help the country and make sure no gold reserves were lost.

He also praised the current government’s efforts and the progress that has been made since his time as governor. Gono called on the people of Zimbabwe to focus on unity and development instead of divisive claims and false accusations.

As Zimbabwe celebrates 44 years of independence, Gono’s message serves as a reminder of how complex it is to run a country’s economy during tough times like sanctions. He stressed the need to protect the reputations of those who have served the country, especially when they have faced difficult situations.