Zimbabwe earns nearly $3M selling elephants to China, Dubai, official says

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If Zimbabwe can’t sell ivory, it’ll sell the whole elephant instead.

Zimbabwe’s Environment, Tourism and Hospitality Industry Minister Priscah Mupfumira revealed on Monday the country has exported 97 elephants to China and Dubai over a six-year period, earning $2.7 million in total.

The country is one of four southern African nations that are trying to get a global ban on ivory trade lifted so they can sell their stocks to fund conservation projects.

“We are sitting on ivory worth $300 million which could be sold to fund our conservation programs as well as benefit communities living in wildlife areas,” Mupfumira said during a parliament session.


The country currently has tusks from elephants that had either died in parks or been seized from poachers, according to The Times of London.

The state-linked Chronicle newspaper reported that the elephants sold off to China and Dubai were between 2 and 3-years-old, and ranged in price from $13,500 to $41,500 each.

“The elephants were airlifted to Shanghai Wildlife Park, Jiangmeu-Hesham, Chimelong and Umurgi in China and to Dubai Safari Park,” she said Monday. “There were no elephant deaths in transit”

Mupfumira also claimed Zimbabwe is overpopulated with elephants, but culling efforts cannot take place due to restrictions the Convention on International Trade in Endangered Species of Wild Flora and Fauna (Cites), an organization that governs trade in endangered species.

“Zimbabwe’s carrying capacity is 55,000 elephants but now we have 85,000,” she said.

More: foxnews

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The Lingo


The ‘Old Mutual Implied Rate’ is a comparison between the Old Mutual share price on the London stock exchange / the Johannesburg stock exchange and the Zimbabwe stock exchange. Effectively RTGS is valued at 1:1 with the USD, but this difference in share price gives us the implied countries exchange rate.


Real-time gross settlement systems (RTGS) is a funds transfer system where money transfer takes place from one bank to another on a “real time” basis and “gross” basis. Settlement in the “real time” means that the transaction happens almost immediately.


The Zimbabwe Bond Note is a surrogate currency issued by the Reserve Bank of Zimbabwe. This was originally issued against a loan facility from the African Export-Import Bank. The Bond Note is officially 1:1 however the market seems to have significantly discounted the value of the Bond Note.


The symbol ZAR is the currency abbreviation for the South African rand.