Zimbabwe is expected to source $30 million from diamond mining revenue to fund the much anticipated elections that seeks to end the troubled government of national unity (GNU).
The Zimbabwean newspaper claimed that a document in its possession showed that the country’s Minister of Finance, Tendai Biti, had set aside $30 million for the elections and the referendum, which should be held this year.
The Zimbabwe Electoral Commission had however said that it needed more than $100 million to hold the elections.
Zimbabwe expected to earn $600 million from the sale of Marange diamonds this year.
Stock market analysts Imara Edwards Africa said while holding early elections might be impossible due to circumstances beyond the control of many, certain prerequisites needed to be fulfilled by the GNU.
“We view an election in 2012 very unlikely due to lack of funding and procedural delays. Many specific conditions necessary for the holding of free and fair vote have to implement – including media and electoral reforms,” it was quoted as saying.
“The constitution-making process will be finalised this year and we estimate that elections will probably take place in the middle of next year.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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