THE Zimbabwe Consolidated Diamond Company (ZCDC) board and management on Wednesday signed integrity pledges in Harare as the State-owned diamond mining company reaffirmed its commitment to good corporate governance and best practices.
World-over, the signing of integrity pledges is seen as a badge of honour and a huge responsibility for the men and women that have been tasked to play oversight roles on corporates.
An integrity pledge is a public commitment to uphold ethical standards, good governance and transparency.
The pledge is viewed as a measure in the fight against corruption and promotion of integrity by officials in public entities.
The Zimbabwe Anti-Corruption Commission is spearheading the implementation of integrity pledges by public entity boards and staff.
ZCDC board chairperson Onesimo Mazai Moyo said the signing ceremony symbolised the company’s quest to continuously improve and work towards becoming a world-class diamond producer.
“This event symbolises a personal and institutional commitment to fight corruption and upholding honesty, transparency and best practices,” Moyo told journalists.
“This is a firm commitment for ZCDC. It is a public declaration and social contract to behave ethically and take responsibility for preventing and reporting corrupt practices.”
He said the signing of the integrity pledges aligned with the company’s core values.
“Transparency and integrity constitute the nucleus of ZCDC values which we observe so dearly.”
ZCDC chief executive Douglas Zimbango concurred with Moyo’s sentiments.
“This is just one way for the management of ZCDC to show our commitment to act in a manner that promotes transparency and integrity within our operations.
“We are a big company that procures (goods and services worth) over US$100 million every year. So, we want this to be done in a proper and value-enhancing manner.
“As you may be aware, there are three diamond mining companies in the country and ZCDC is the largest among these companies contributing significantly to the growth of the sector.
“We mine up to 6,5 million carats every year for which we get over US$200 million every year. Out of this US$200 million, we pay taxes and levies to the government and we also pay something to communities that we operate from.”
ZCDC is wholly owned by Defold Mine (Pvt) Ltd, which has 100% shareholding and was incorporated in 2015 under the Companies Act of Zimbabwe.
In March 2016, ZCDC started operating after the government consolidated all the diamond mining concessions in Chiadzwa.
The diamond company has operations in the Chiadzwa area and Chimanimani.
ZCDC is conducting extensive exploration and evaluation across Zimbabwe in search of kimberlite pipes which can be mined economically.-newsda
