Sakupwanya honoured for role in mining
YOUTHFUL businessman and Better Brands boss, Scott Sakupwanya, last week bagged two awards for the role he has played in improving gold deliveries to the government.
Sakupwanya was rewarded with Young Innovative Project Director of the Year and Most Influential Young Corporate Director of the Year awards in the mining sector.
The awards were given by the Chartered Institute of Project Managers Zimbabwe (CIPMZ) and Institute of Corporate Directors Zimbabwe.
Better Brands is one of the indigenous firms contracted to buy gold on behalf of Fidelity Printers Refiners (FPR) and this year delivered more than 800kg of gold to the former subsidiary of the Reserve Bank of Zimbabwe (RBZ) which has now been unbundled.
“We feel encouraged to do more for the country and the economy when our work is recognised especially at this critical time when the gold resource should be benefiting the people of Zimbabwe.
“Better Brands has been consistent in honouring its obligations and our aim is to deliver more gold to the government for the benefit of the economy and Zimbabweans in general.
“These awards are a testament of our resolve and commitment to supporting President Emmerson Mnangagwa and his government’s vision for the people of Zimbabwe,” Sakupwanya said.
Better Brands has been one of the RBZ agents since 2006 and is credited with plugging leakages through its aggressive mopping of gold among small-scale miners.
Currently authorities are grappling with high incidences of gold leakages which some mining industry players blame on poor capitalisation of small-scale miners and better prices offered by underground networks.
The RBZ is expecting lower than expected gold deliveries this year.
Speaking in October at the Chamber of Mines and Financial Gazette unveiling of the State of Mining Report, RBZ governor John Mangudya, said gold deliveries to FPR had been lower than expected for the first nine months of this year.
“There are some sectors where compliance is low. I have looked at the numbers from the mining sector where gold has produced 25 tonnes.
“This year gold that has come through the formal channels, that is to Fidelity Printers, is lower than last year where in the first nine months we had 18,3 tonnes. This year we have 12,8 tonnes.
“Despite the price increase of 26 percent year on year, gold is at 12, 8 tonnes on an average price of US$55 000 that is US$710 million versus the US$795 million received in the same period in 2019.
“I am just saying the 12,8 tonnes by end of September might leave us at 17-18 tonnes (short) by end of the year.
“So, despite gold having gone down, in terms of value, other mining products especially platinum pushes the mining sector upwards,” Mangudya said.