DR. GONO SLAMS FALSE GOLD THEFT CLAIMS

In a strong defense against recent allegations, Dr. Gideon Gono, the former Governor of the Reserve Bank of Zimbabwe (RBZ), has dismissed claims made by Chris Mutsvangwa, the Zanu PF spokesperson. Mutsvangwa suggested that during Gono’s tenure, large amounts of Zimbabwe’s gold reserves were stolen through unauthorized transactions with a Saudi Arabian company.

Gono said the allegations are a misinterpretation of a legal and complex financial deal from 2006. At that time, the RBZ engaged in a $150 million transaction involving jewelry with a Saudi entity. This transaction was part of a broader strategy to secure a $600 million line of credit through a South African bank. The money was needed to ease the economic strain caused by severe Western sanctions imposed on Zimbabwe in 2002. These sanctions disrupted government operations and the wider economy.

Mutsvangwa was Zimbabwe’s Ambassador to China during the time of the deal. Gono accused him of lacking a factual basis for his claims. He emphasized that Mutsvangwa’s absence from the country during the deal’s formulation left him poorly informed about the transaction’s details and its strategic importance.

The credit line funds were crucial for importing essential goods such as electricity, fuel, and fertilizer. These imports were vital for sustaining the Zimbabwean economy at a critical time. Gono pointed out that the sanctions had left the RBZ and the nation in a dire financial position when he became governor in December 2003, with the central bank essentially running on empty.

In his public statement, Gono detailed that the Anti-Corruption Commission of Zimbabwe (ZACC) had already investigated these claims and found no evidence of wrongdoing. The investigations included interviews with both Gono and his successor, John Mangudya, and a review of the financial transactions and agreements.

Gono warned that if such “blatant lies” were left unchallenged, they could lead to widespread character assassination and misrepresentation of facts, severely damaging reputations. He expressed concern over the potential harm to the credibility of the individuals involved and the nation’s financial institutions.

The former governor also reflected on the difficulties faced during his administration. He underscored the complex financial maneuvers required to navigate the sanctions. He suggested that those without a direct role or adequate knowledge of the circumstances might easily misinterpret the actions taken during those times.

In a broader call for accountability and truth, Gono proposed that if necessary, President E.D. Mnangagwa should establish a Commission of Inquiry to thoroughly investigate and clarify the situation. Such a measure would help to dispel myths and ensure that the public receives accurate information regarding the matter.

Gono’s tenure, which spanned from 2003 to 2013, was marked by his efforts to stabilize and boost Zimbabwe’s economy under challenging conditions. He closed his statement by affirming his commitment to defending the integrity of Zimbabwe’s financial governance and stressed the importance of historical accuracy and integrity in public discourse.

By addressing these allegations directly, Gono hopes to restore confidence in Zimbabwe’s banking system and encourage a more informed and respectful dialogue about the country’s economic history and its leaders’ legacies.