Published: 19 September 2013

Chairman of diamond-mining company Gye Nyame resources (GNR) at the centre of a $6 million scandal Manson Mnaba yesterday disclosed that Ghanaian investor William Ato Essien brought $5 million cash into the country, which the financier claimed he gave to former Zimbabwe Mining Development Corporation board chairman Godwills Masimirembwa.

In an exclusive interview yesterday, Mnaba, who is a Zimbabwean land develop, said Essien showed him a declaration receipt showing that the Ghanaian had entered the country with cash worth $5 million.

The GNR is a joint venture between ZMDC and Bill Minerals which is owned by Essien. Mnaba, however said he did not know if Masimirembwa actually received the money since this happened three years ago. Mnaba said he only assumed chairmanship of the company in March this year.

Mnaba said the Ghananian investor only brought $8 million as capital injection for operational costs against the $30 million promised in the due diligence and draft joint venture agreement with ZMDC. He said the company had to borrow money from two local banks to finance its operations. 
- newsday

You might also want to read this

• Zimbabwe to auction 500 000 carats
• Murowa begins diamond exploration in Chivi
• CCTV sells out diamond-thieving guard
• ZCDC to extract Chihota diamonds
• African govts fight 'conflict diamonds' resolution
• Zimbabwe courts diamond buyers in Belgium
• Govt to improve diamond sector governance
• River Ranch Mine remains idle
• Zimbabwe resumes diamond auction
• Chinese firm loses Zim diamonds court battle