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Vol 54 No 16

Published 2nd August 2013


Gono on the spot over oil deals

An investigation by Africa Confidential, The Telegraph and Global Witness has revealed suspicious payments to central bank governor Gideon Gono’s children

The business affairs of the Governor of the Reserve Bank of Zimbabwe (RBZ), Gideon Gono, are back in the headlines since evidence emerged that three of his children had received US$160,000 from Harare broker Mohammed Iqbal Mahmed’s Ravenscourt Corporation in 2006. In November 2008, Africa Confidential exclusively revealed that Gono had helped Ravenscourt to become the sole supplier of imported oil products to the local subsidiary of the French oil company Total, which then supplied 45% of the Zimbabwean market (AC Vol 49 No 24, Making money with Britain's help). A Total executive admitted to AC at the time that there were ‘political considerations to the deal’ with Ravenscourt.

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