Mbada Diamonds boss quits

peshi

Patience Khumalo

Mernat Mafirakurewa Business Editor
THE Chief Executive Officer of Mbada Diamonds, Patience Khumalo, has resigned from the company, she confirmed last night.
Khumalo, speaking exclusively to Business Chronicle, said: “I was the first employee and I was always bound to leave one day.“I’m proud of what we’ve achieved in a very short space of time, in particular Mbada Diamonds’ ongoing contribution to the economic security of this country.”

Khumalo — the daughter of Mbada Diamonds chairman Robert Mhlanga — said she was taking time out to consider her next move, hinting strongly that she would be going abroad to pursue “personal interests”.

A Mbada Diamonds spokesman said last night: “She resigned to pursue other interests after serving the company with distinction in various capacities since its inception.

“She had signaled in December last year that she wouldn’t be seeking a renewal of her contract and we were all prepared for it.
“Luciano Thomas is the acting CEO and the board will make an announcement at the appropriate time.”

Khumalo leaves soon after the company surpassed the $1 billion mark in revenue collection since it commenced operations in 2010.

The diamond mining firm has become popular for its generosity through sponsoring the Mbada Diamonds Cup and various corporate social responsibility activities.

Mbada has renovated schools, equipped them with furniture, textbooks and uniforms in addition to a scholarship fund that benefits bright students from poor backgrounds.

The company has also provided farming inputs to families that were relocated during its mining operations and provided training in collaboration with the Zimbabwe Farmers Union

Mbada — which is one of seven diamond mining companies in Chiadzwa — is a 50-50 venture between the Zimbabwe Mining Development Corporation (ZMDC) and New Reclamation Group’s Grandwell Holdings of South Africa.

Since commencing operations, Mbada has spent $214,5 million on capital expenditure with direct production-related expenditure totalling $225,6 million.

The government has so far received $424 million in the form of taxes, dividends and advances with close to $40 million having been spent on corporate social responsibility activities.

Mbada has over 1,700 employees and is the largest diamond producer in the country.

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  • Muza Sibanda

    Akabazve. Akuchienda kuno luma loot yake pamwe nababa vacho. They are busy externalising the wealth of Zimbabwe instead of re-investing in the country. Haibo

  • Chaizo

    Thanks CEO for serving the your time at the company. Yo did well. You will surely be remembered. You were excellent

  • samuel shumba

    Thanks Patience for your service but zwana ntombi please ask your father to sell that R180 million dollar property in North Coast Ballito in kwaZulu Natal. It just makes us jealous Zimbabweans angry. I know Kwa Zulu is where your father’s ancestors come from but please lets invest in Zimbabwe. He could buy in Vic Falls or Kariba. The water here is even not salty!!!

  • Mlilo Bocha

    Thieves. I feel pained. One day I shall be granted the powers and people will see justice. Now going to spend or enjoy the looted diamonds funds. No problem, even Nehanda said my bones shall rise. I AM from Marange and people benefitting from these diamonds more are not from Marange. We will see. I get sick to hear the word Mbada Diamonds, Ivhu ramai Mujuru, etc. Even war waged by the Marangeans for their wealth would be better. Yes, some people will die but later the beneficiaries could also be from the zone. Giving the people of Marange food will always keep them dependent. Give them jobs from those mines. Why use nepotism in recruitment? Why not make a skills audit of the people from Marange and see if they do not qualify? The storm is building. War kills but it liberates.

  • Messenger Of God

    We can’t wait to see these greedy rich people kneeling down and begging from the poor. On that day which is very near, they will have nothing…Messenger Of God