Tender Offer - Zimbabwe Waited One Month for Dubai Auction Sales Transfer

yash_naik24

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Zimbabwe waited more than 30 days (one month) to receive payment for diamonds sold in Dubai last month. This causing problems for diamond firms' operations, and leading to some calls for Zimbabwe to conduct local auctions.

On March 24 Zimbabwe held its first wish to do auction for 380,626.24 carats at Dubai Diamond Exchange Centre; with sales of $29.3 million. But the Global Diamond Tenders, had problems transferring the money to Zimbabwe. According to The Herald, with proof of cash transfer only being received on April 24.

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