Maravi

(HERALD) ‘Govt won’t backtrack on empowerment drive’

‘Govt won’t backtrack on empowerment drive’
Business Reporter

INDIGENISATION of the economy should not be mistaken for expropriation and the Government will proceed with the process while taking into consideration the thrust of empowering the majority of Zimbabweans, a Cabinet minister has said.

Youth Development, Indigenisation and Empowerment Minister, Saviour Kasukuwere at the weekend said while there were some misconceptions regarding the application of the country’s indigenisation laws, the Government would not back down on the empowerment drive.

"We have no apologies to make and we are proceeding to make sure that the economy of this country is put in the hands of the majority blacks. It is Government’s desire to change the landscape of this country and the majority should be involved in this development.

"We are being very reasonable and yes, some mistakes were made during land reform and we do not want to repeat that. We must empower our own people first and then we can look at outsiders," Minister Kasukuwere said.

Minister Kasukuwere was speaking at a fund raising function for the construction of a US$24 million Territorial Convention Centre for the Salvation Army in Waterfalls.

He said existing opportunities and many other openings in the economy should be made available to Zimbabweans to change their fortunes.

The minister said people had the prerogative to take it upon themselves to create wealth as there numerous opportunities available waiting to be exploited.

"This country is filled with opportunities. We have rivers flowing with gold and we have vast mineral resources and if you work hard, you can make money," he told hundreds of worshippers at the site of the proposed development which will be funded using local resources.

The subject of indigenisation has caused some consternation in some circles with many mistaking it for nationalisation of foreign owned companies instead of compliance with the country’s indigenisation laws. The Government has maintained that in terms of the indigenisation laws, at least 51 percent of the ownership of companies should be in the hands of locals.

Minister Kasukuwere donated 60 tonnes of cement to kick-start the project, while local businessman Mr Philip Chiyangwa offered the church a house valued US$150 000 to be raffled and raise money for the construction.

Labels: BEE, CEMENT

posted by MrK @ 12:16 PM