THE Emerging Miners Association of Zimbabwe (Emaz) has called for enhanced regulatory oversight of foreign investors, stressing the importance of ethical capital, transparent traceability, and audited profit repatriation.
These measures, according to Hyde Chatyoka, president of Emaz, aim to curb illicit activities, promote accountability, and foster sustainable economic growth in Zimbabwe’s mining sector.
“Investors must bring foreign capital into the country through formal channels, use it ethically with traceability and repatriate profits after they have been audited to eliminate any criminality in their business conduct in Zimbabwe,” he said.
“This will eliminate any criminality in their business conduct and ensure that Zimbabwe benefits fully from its resources.”
Chatyoka’s remarks come amid growing concerns over illicit financial flows and unethical practices in the mining sector.
According to Veritas, Zimbabwe is estimated to have lost over US$32 billion through illicit financial flows between 2000 and 2020.
Chatyoka emphasised that foreign investors must operate transparently, adhere to Zimbabwe’s laws, and contribute to the country’s economic development through job creation, support for local industries, and sustainable export practices.
He urged foreign investors to view their relationship with Zimbabwe as symbiotic.
“Investors are granted the privilege to exploit our resources, but they must also bring foreign currency, create jobs, and care for our people and the planet,” he said.
“This is not just about profits; it’s about building a sustainable future for Zimbabwe.”
The Emaz president also called on the government to provide clarity on the term “investor” to eliminate legal ambiguities and prevent misdemeanors.
“We need a clear framework that defines the rights and responsibilities of investors,” he said.
“This will ensure that Zimbabwe is open for business, but not for exploitation.”
Chatyoka added that, as emerging miners, they stand ready to work alongside the government to achieve a more inclusive and robust economic landscape.
