Al Jazeera reveals how gold is used to launder money in Zimbabwe

The report illustrates how dirty money is exchanged for gold in Zimbabwe. (illustration image) © CC0 Pixabay/Csaba Nagy

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2 min

Is Zimbabwe a huge money laundering platform? This is demonstrated by the first part of a shocking investigative documentary broadcast by the Al Jazeera channel and visible on YouTube. The report illustrates how dirty money is exchanged for gold in Zimbabwe, then sold in Dubai for dollars and returned as new money. The intermediaries of this fraudulent scheme are South African or Kenyan mafiosi and Zimbabwean officials very close to the government. Since its release, the documentary has been much discussed, especially in South Africa, and episode 2 is highly anticipated, as it promises to get closer to the top of the state.

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With our correspondent in Johannesburg, Romain Chanson

President Emmerson Mnangagwa is proud of his ambassador. He has appointed Uebert Angel as his special envoy to 85 countries to promote the Zimbabwe brand to investors. But what Uebert Angel is doing is laundering money on a large scale. He offers to smuggle dirty money into Zimbabwe, as he confides to undercover Al Jazeera journalists.

« We have already transferred $200 million, $300 million, but we have not yet made $1 billion. I can carry a bag like this with $1.2 billion, wrap it in a ribbon with diplomatically marked on it and no one will touch it, it's really very simple. »

The dirty money is then used to buy gold. The gold is flown to Dubai and then sold for dollars that will make its way back to Zimbabwe. According to Al Jazeera, this system benefits the mafiosi and the government, which is not allowed to sell its gold abroad because of international sanctions, but is desperately looking for foreign currency to support its economy.

Is President Emmerson Mnangagwa directly involved? The upcoming episode 2 of the documentary promises a meeting with the Zimbabwean head of state who asks for $ 200,000 to be approached.

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Read on on the same topics:

  • Zimbabwe
  • United Arab Emirates
  • Emmerson Mnangagwa