The coronavirus pandemic devastated and destabilised several country. Zimbabwe was not left out on this phenomenon. The World Bank reported an increase in extreme poverty in Zimbabwe during the pandemic.
This would seem like a normal occurrence given the covid-19 imposed economic challenges. However, some would say the math isn’t as simple as that. The country is said to have reported a significant increase in gold export during the pandemic period. Zimbabwe’s gold export earnings jumped 132.37% in July 2021 to US$184 million from US$79 million in the same period last year. Month on month export earnings were up 30.2% from US$141.5 million realized in June 2021.
Zimbabwe is targeting to be producing 100 tonnes of gold per year by 2023, which is part of a drive to achieve export earnings of US$12 billion by the mining sector by that time.
These high figures have lead others to wonder why there seems to be no change in the country’s economic conditions. A factor that is often referred to is that of illegal activities that take place in that sector. The yields seemingly benefit just a few individual. For instance, the amount of gold that is smuggled annually is reportedly worth about US$1.5 billion.
While some might get away with illegal activities, during this covid era some have fallen subject to the law. Such was the case in the major gold scandal that took place this year. The involved smuggler associated himself with Zimbabwe Miners Federation President Henrietta Rushwaya although she later disowned him.
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