Image credit: Zimbabwe Diamond Industry (Facebook)
The Israeli government is in talks with Zimbabwe to directly buy diamonds from the southern African country, according to local media reports.
Relations between the two countries had been frosty for years after Harare expressed solidarity with Palestine.
Zimbabwe's recently appointed Honorary Consul to Israel, Ronny Levvy Musan was quoted by a local weekly as saying that Israel wants to establish an agreement in which Zimbabwe could offer its diamond reserves as surety to unlock fresh lines of credit from international finance institutions and investors.
Zimbabwe is seeking a multi-billion dollar rescue package to ease an economic crisis battering the country.
"In my opinion … if Zimbabwe uses its mines and its diamonds as guarantees to investors and banks who are willing to give Zimbabwe cash for it, it will help inject huge money into the economy and march Zimbabwe into a new era much faster than it seems,” he said.
"…Zimbabwe is indeed one of the five leading countries in the field of diamonds and Israel is known as a leading country in the field of the diamond trade, with branches in almost every country in the world.
"The absurdity is that ... many companies from all over the world who buy diamonds from Zimbabwe and come to Israel to sell them after adding their profit.''
Musan claimed that he had a “long list” of merchants waiting to see and purchase goods from Zimbabwe.
''The diamond field is an area that can bring lots of money to Zimbabwe, can help Zimbabwe propel its economy and develop Zimbabwe in all other fields and we are happy to have the opportunity to mobilise all the forces working in this field to bring support to Zimbabwe and encourage its diamond industry," he said.
Zimbabwe produced 2.1 million carats in 2019 valued at $141.1 million, according to data released by the Kimberley Process.
The country has set an ambitious diamond production target of 12 million carats by 2025.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
