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1. While we’re here @DakaraiMap I notice your company Platinum Agriculture had US$500 million Chinese loans GUARANTEED by the Zim Government i.e. the taxpayer would pay if Platinum defaulted. The source of defensiveness is becoming more apparent. But you’re entitled to be heard
2. In our Constitution, a guarantee of a loan by the Government must be declared to & approved by Parliament. This is vital because guarantees add to public debt as a contingent liability. This is a real risk where a borrower who gets a state guarantee fails/neglects to pay.
3. It would mean the private loan was a front for a taxpayer funded scheme. In other words, private individuals would have used public funds to finance their personal projects. This is why such government guarantees require scrutiny.
4. This problematic where individuals & their companies are habitual beneficiaries of government guarantees which get called up when they don’t pay back the loans. Our country has a clique that masquerades as entrepreneurs when it literally preys on public funds in this way.
4. Therefore, in the interests of transparency @DakaraiMap I ask a few questions: 1. Did the government guarantees granted to your company get Parliamentary approval? 2. Have any of these guarantees been called to date? 3. Who were the beneficiaries of this scheme in Zimbabwe?
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