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Put a respected auditor in charge of Zimbabwe's funding
Denis Worrall, Financial Times
July 03, 2009

View this article on the Financial Times website

Sir, Your assessment of Morgan Tsvangirai-s recent visit to western capitals to raise investment funding for Zimbabwe is correct ("Morgan-s dilemma", June 25). He gained positive sympathy and media attention wherever he went, but no hard funding. And that, aside from not helping his country and its people, weakens his political position at home. Sadly, you say, this was inevitable. I have a different view.

The day before your editorial you carried an extensive report of a London Mining Conference on Zimbabwe ("Harare seeks to lure mining investors", June 24), which Mr Tsvangirai keynoted. Other platform participants at the conference, which was very well attended by mining investors and analysts, included both well-established and new mining companies in Zimbabwe. What is important is that by the end of the conference there was a strong consensus among those present that the process of what is in effect regime change in Zimbabwe is irreversible. But how smoothly this will happen depends very largely on the attitudes and actions of western countries and international organisations.

The reluctance of governments and international organisations to donate funds directly to the Zimbabwe state as presently constituted, as opposed to making laudable donations to non-governmental organisations, is understandable. But why not appoint one of the top four auditing firms represented in Zimbabwe to receive and manage all funding from governments and international organisations?

The firm would also be responsible for supervising and awarding any tenders and contracts which relate to that funding. I believe this is something that Tsvangirai and his MDC colleagues would welcome but they can-t make the proposal themselves because of the risk of being accused of detracting from Zimbabwean sovereignty. How about the European Union or the International Finance Corporation suggesting this?

It is in everybody-s interest to see Zimbabwe on its feet; and given that western countries and international organisations are in any event going to provide the funding, they have a political and humanitarian responsibility - especially given Africa-s lack of imagination - to ensure that the process presently underway occurs with all deliberate speed.

A genuine strategy of "construction engagement" is what is needed.

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