The Zimbabwean government has barred a popular diamond dealer, Jamal Ahmed, from participating in the Minerals Marketing Corporation of Zimbabwe (MMCZ) diamond auctions.
The Zimbabwe Independent reports that the move was meant to deal with a diamond-buying syndicate influencing prices on the auction.
Unnamed officials from the Zimbabwe Consolidated Diamond Company (ZCDC) and MMCZ were allegedly accused of setting up a cartel that had been manipulating diamond prices in the southern African country, which benefitted Ahmed, a Lebanese.
“Jamal has been the prominent buyer of diamonds at the auction due to his competitive prices. But there are indications that diamond prices were leaked to him before the auction. He had inside information,” an unnamed source was quoted as saying.
“The calls to bring order on the diamond auction grew louder forcing the government to wield the axe on the diamond dealer. He was told to stop dealing with MMCZ forthwith or risk jail time and deportation.”
The Lebanese denied the allegations levelled against him saying he was a legitimate buyer who offered competitive bids.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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