The Zimbabwe Consolidated Diamond Company (ZCDC) has reaffirmed its commitment to sustaining production levels despite the ongoing global decline in diamond prices, positioning itself as a central player in Zimbabwe’s drive to grow the mining sector and achieve Vision 2030.
Speaking at the signing of integrity pledges by the ZCDC Board and Management in Harare yesterday, ZCDC Chief Executive Officer Mr Douglas Zimbango said the state-owned company remains determined to maintain annual production of 6.5 million carats. The event was organised under the leadership of the Zimbabwe Anti-Corruption Commission (ZACC) as part of a broader campaign to strengthen ethical governance across State enterprises.
“The mining sector is key in driving Zimbabwe’s economic growth and development. We are currently producing about 6.5 million carats annually, and we are determined to sustain these production levels to create a robust mining industry that supports the attainment of Vision 2030,” said Mr Zimbango.
He emphasised that maintaining consistent output amid price volatility will not only protect jobs and export earnings but also preserve investor confidence in Zimbabwe’s diamond sector.
ZCDC Board Chairperson Mr Onesimo Moyo underscored that ethical conduct and accountability are central to the company’s operations, particularly in light of President Emmerson Mnangagwa’s call for zero tolerance toward corruption.
“We are determined to respond to the President’s call to help curb and fight corruption, hence this integrity pledge is fundamental in ensuring that we uphold our core values of transparency, accountability, and integrity,” Moyo said.
The ZACC-led initiative is part of ongoing efforts to promote corporate integrity within the extractive industry, a key pillar of the National Anti-Corruption Strategy (NACS). ZCDC’s leadership pledged to continue improving operational efficiency and transparency in all areas of its business, from exploration and mining to processing and sales.
Despite the global diamond market experiencing a slowdown due to oversupply and reduced consumer demand, Zimbabwe’s diamond sector continues to show resilience. The country currently hosts three other major players Murowa Diamonds, Alrosa Zimbabwe, and Anjin Investments which collectively contribute to the steady expansion of the local diamond industry.
As the global market stabilises, ZCDC’s strategy focuses on sustained production, ethical governance, and value addition, aligning with the Government’s vision to transform Zimbabwe into an upper-middle-income economy by 2030.
