FIDELITY Printers and Refiners has absolved Better Brands Jewellery (BBJ) operations — an indigenous gold trading agent — of being involved in illicit gold deals, saying the company was a key agent for the country’s sole gold buyer.
Better Brands Jewellers founder Mr Pedzisai Scott Sakupwanya last week created a social media buzz after his pictures holding large sums of money and gold bars went viral.
Fidelity general manager Mr Fradreck Kunaka confirmed that Better Brands was contributing immensely to gold deliveries at Fidelity.
In an interview with The Sunday Mail yesterday, Mr Sakupwanya said:
“I am a man who is willing to work for the country and have been working for the country for a very long time. I have been a gold agent for Fidelity for a long time and I am one of their leading dealers. Between November last year and today I have delivered over 829 kgs of gold to Fidelity. This week alone I delivered 29 kgs. The challenge I am having is that the prices being offered by Fidelity are lower compared to those offered by illegal smugglers. So, Fidelity should be reviewing its prices so that dealers like myself are not priced out.”
He said authorities should investigate licenced gold dealers who are not delivering gold to Fidelity, with a view to cancelling their licences.
Finance and Economic Development Minister Professor Mthuli Ncube recently said Government was putting in place measures to curb gold leakages, including fair pricing, enforcement of the law and plugging holes at the country’s borders.
Government intends to build a US$12 billion mining industry by 2023 anchored on enhanced exploration, enhanced investment, increased productivity, employment creation and value addition.
The mining sector contributes up to 70 percent of the country’s forex earnings.