Africa Confidential Reports details of ZANU-PF Money trail

As mentioned in the previous posting on the ZSG blog, the ability of insiders in ZANU-PF to pilfer foreign exchange earnings from the most lucrative mining interests in Zimbabwe has lead to the re-investment of these funds in lucrative opportunities elsewhere. Africa Confidential reports on July 18th of some of the strategies being used in relation to mining, in this case asbestos mining. Africa Confidential reports:

"Earlier this month, a judge granted AMG Global Nominees an appeal hearing for 3 November in its long-running fight to take control of the London-listed Africa Resources
Limited (ARL) and its asbestos mines, owned by Zimbabwean businessman Mutumwa Mawere (AC Vol 49 No 12).An article on 27 June in Zimbabwe's daily state mouthpiece The Herald let slip that AMG Global Nominees 'represents Government [sic] interests'. AMG Administrator Afaras Gwaradzimba, appointed by Justice Minister Patrick Chinamasa, said in
an interview that AMG had received 'US$2 million from the Reserve Bank' in a bid to force Mawere to divest control in ARL. Charles Hewetson, a partner at Reed Smith, told AC that Gwaradzimba was independently appointed and the government's relationship with AMG was as a creditor to the asbestos mines. "

The entire article gives much greater detail.