GIDEON GONO BREAKS SILENCE ON ZANU PF GOLD THEFT CLAIMS
Former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono has come out to clear the air after claims made by Zanu PF spokesperson Chris Mutsvangwa. Mutsvangwa said that the country’s gold reserves were stolen and sold to Saudi Arabia without payment. These claims have caused a lot of confusion and controversy. But Gono says these claims are false and that Mutsvangwa has misunderstood the facts.
In a public statement, Gono explained that what happened was not a theft. He said it was a financial deal that took place in 2006. It involved a jewelry deal with a Saudi company worth US$150 million. This deal was part of a bigger plan to secure a loan of US$600 million from a South African bank. Zimbabwe needed this money to buy important things like electricity, fuel, and fertilizer. At the time, Zimbabwe was under strict economic sanctions from Western countries, which had started in 2002. These sanctions made it very hard for the government to run the country, so creative solutions were needed.
Gono said when he became governor in December 2003, the RBZ had no money, and the country was in a difficult situation. The sanctions had caused many problems, and the government needed to find ways to keep things running. The gold deal with the Saudis was one such way to help the country during this time of need.
He also said that Mutsvangwa, who was Zimbabwe’s Ambassador to China at the time, was not in the country when the deal happened. Because of this, Gono believes that Mutsvangwa does not know the full details of the deal, and this is why he is making false claims. Gono insists that nothing was stolen and that everything was done properly.
Gono also criticized the use of public money for investigations into these false claims. The Zimbabwe Anti-Corruption Commission (ZACC) looked into the matter, questioning both Gono and the RBZ governor who came after him, John Mangudya. In the end, the investigation found that there was no wrongdoing. Gono said the money spent on these investigations was a waste because there was no truth to the claims.
The former governor is also worried about how these false claims can hurt people’s reputations. He said that these accusations are an attack on his character and that of others involved. Gono made it clear that no gold reserves were lost while he was governor. He said all the financial transactions were transparent and were checked every year by well-known international companies like Deloitte & Touche and KPMG.
Gono’s statement also asked people to respect the work done by past RBZ governors, including himself. He reminded everyone of the difficult times they had to manage, especially during the years of economic sanctions. He stressed that any information about past financial dealings should be accurate and truthful, especially when these transactions have already been checked and made public.
He suggested that if there are still any questions or misunderstandings, a Commission of Inquiry should be set up to investigate everything thoroughly. This way, the public can know the truth, and Zimbabwe’s financial system will not be damaged by false claims.
Gono ended his statement by looking back on his time as RBZ governor. He talked about the difficult times Zimbabwe faced and how the deal with Saudi Arabia was part of a plan to help the country get the foreign currency it needed. He made sure to say that Zimbabwe did not lose any gold reserves and that everything was done in a way that helped the country.
In his final comments, Gono praised the current government for the progress they have made since his time as governor. He called on everyone to focus on unity and development instead of fighting over things that are not true. He reminded Zimbabweans to come together as the country celebrates its 44th year of independence.
Gono’s strong words serve as a reminder of the difficult job of managing the economy under tough conditions and the need to protect the reputation of those who have served the country.
Gono should stop acting like a victim here. Mutsvangwa is highlighting what many Zimbabweans are already thinking—that there’s been mismanagement of our resources. Gono’s defensive response only raises more suspicion about what really happened with the gold reserves.
Gono is just trying to cover his tracks. If everything was above board, why is there still so much controversy around this deal? The country deserves answers, not excuses. Mutsvangwa has every right to raise these concerns, and a full investigation is needed to clear the air. It’s convenient for him to criticize Mutsvangwa when he was the one managing the economy during one of Zimbabwe’s worst financial crises. His leadership during those sanctions didn’t exactly inspire confidence. Maybe it’s time for him to admit his mistakes instead of deflecting blame.
Gono’s point about the waste of public money on baseless investigations is important. Instead of chasing after old and debunked claims, Zimbabwe should be focusing on building its future. Gono’s leadership during those difficult years deserves more respect than he’s being given.
Gono’s response shows that Mutsvangwa’s claims are not based on facts but on a misunderstanding of the situation. It’s clear that the gold reserves were not stolen and that the deal with Saudi Arabia was a legitimate effort to help Zimbabwe during tough times. Gono’s transparency is commendable.
It’s refreshing to see Gono address these false accusations with clarity and detail. The fact that independent audits by Deloitte & Touche and KPMG found no wrongdoing speaks volumes. Mutsvangwa’s claims seem like a political move rather than a genuine concern for the country’s resources.