The Zimbabwe Independent engaged in gutter journalism – Biti

The Zimbabwe Independent is engaged in a wage of war against the Minister of Finance Tendai Biti due to Trevor Ncube’s links with the Reserve Bank Governor Gideon Gono and his Deputy Nicholas Ncube.

Deputy Reserve Bank Governor Nicholas Ncube, the former Director General of the Zimbabwe Investment Centre is a Russian trained economist and he was the beneficiary of the Russian-ZAPU link.

Also on the board of the Reserve Bank is Mike Ndubiwa, the former Bulawayo Town clerk and hence this bunch has been funding Trevor Ncube’s Zimbabwe Independent and its sister paper The Zimbabwe Standard through the discredited Reseve Bank’s BACCOSI scheme.

The Basic Commodities Supply Side Intervention (Baccosi) was an invention by Zanu PF and its friendly forces to siphon funds from Central Bank into their businesses operations and with the arrival of Tendai Biti as Finance Minister, this has been stopped and hence this latest hysterical gutter journalism from the Trevor Ncube’s stables.

Trevor Ncube, a former ZAPU committe member at the University of Zimbabwe in the 80s is believed to be working with one of the ZAPU factions to unleash propaganda against the MDC.

ZAPU is now mired in power struggles between two factions, one led by Dumiso Dabengwa and the other led by former Speaker to the Parliament Cyril Ndebele.

Biti strongly dismissed the fead story of the latest edition of the Zimbabwe Independent which claimed that Zimbabwe had entered into a US$5 billion deal involving the mortgaging of the country’s platinum resources which are worth US$40 billion.

Biti told a news conference in Harare Friday that no such agreement had been signed between China and Zimbabwe.

“The Zimbabwe government through the Ministry of Finance has not signed any agreement with China in regard to the disposal of any resources with China,” he said.

Biti said the Independent report was miscievous. The Independent story, penned by Dumisani Muleya claim that Biti had signed a cautioned Memorandum of Understanding (MoU) with the Eximbank of China (Eximbank) for the platinum-backed US$5 billion loan on condition of explicit legal documentation and declaration of the obligations of the Chinese.

The Independent reported that the deal involved the “mortgaging of the country’s platinum resources worth US$40 billion which will benefit Beijing more than Harare”.

“That is a story without any foundation, without any credibility, without any legitimacy,” a furious Biti said. “It is sad journalism.

“The government of Zimbabwe has not signed any agreement with the Chinese government in respect of the disposal of platinum resources or any other resource, more so since the 16th of February when the new government was formed.

He said in 2006, the Zimbabwe Mining Development Cooperation (ZMDC) had signed and executed a joint venture agreement with a Chinese company for the development of platinum resources covered in a piece of land covering 110 square kilometres called Selous and Northfields Reserves.

“That is the only, only, only agreement between a Zimbabwean interest and a Chinese interest over platinum in Zimbabwe,” Biti said. “That resource is still to be developed. So where US$5b arises eludes my wisdom. It’s gutter journalism.”