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(HERALD) Chapfika chairs Indigenisation Board

Chapfika chairs Indigenisation Board
Herald Reporter

President Mugabe has approved the appointment of the National Indigenisation and Economic Empowerment Board as provided for by the Indigenisation and Economic Empowerment Act.

The 13-member board has representatives from interest groups, indigenisation and empowerment experts and other key sectors such as women, youth, the disabled and ministries of Economic Planning and Investment Promotion, Mines and Mining Development and Industry and Commerce.

Former Member of Parliament and Deputy Minister of Finance and Economic Development and later Agriculture Mr David Chapfika will chair the board.

Mr Chapfika is an indigenisation and empowerment expert, who is a professional banker. He has worked for several banks in Zimbabwe and carried out international banking consultancy for the World Bank.

Other members of the board include Dr Ellen Gwaradzimba, Ms Sitholakele Masuku, Mr Adam Molai, Ms Sheila Sidambe, Engineer Musanhu — all indigenisation and empowerment experts — and Mr Thankful Musukutwa, the Secretary in the Ministry of Mines and Mining Development.

Other board members are Mr Prince Mupazviriho, Secretary in the Ministry of Youth Development, Indigenisation and Empowerment, Mr Spencer Chihota representative of the youth; Mr Farai Mutamangira, a lawyer; Dr Desire Sibanda from the Ministry of Economic Planning and Investment Promotion.

There is also Mr Dayford Nhema from the Ministry of Industry and Commerce, and Mr T. Mungoni, who is the national research and advocacy officer for the National Association of Societies for the Care of the Disabled..

The board is expected to spearhead the implementation of the indigenisation and economic empowerment objective of achieving the 51 percent indigenous stake in all major companies of the economy.

Addressing the appointees after making the announcement yesterday, Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere said the objectives of the board are to advise the minister on the Government’s indigenous and economic empowerment strategies.

It should also advise the minister on appropriate measures for the implementation of the objectives of the Act and the National Indigenisation and Economic Empowerment Fund. It will oversee compliance with the charter and perform other functions as may be permitted or required or conferred to the board under the Act or any other enactment.

The rationale for indigenisation and economic empowerment was premised on the realisation that the majority of Zimbabweans had a natural right to benefit from the exploitation and utilisation of the country’s resources.

Minister Kasukuwere said indigenous economic empowerment was the only sustainable way of achieving socio-economic and political stability.

"This strategy calls for mutually beneficial partnerships between indigenous Zimbabweans and foreign investors. I think time has come for us to reject unfounded claims that our minerals have no value yet day and night we see truckloads of granite stone leaving the country and our poor communities just watch with no benefit accumulating to them," he said.

The minister warned the board members against corruption saying this would affect the main objective of empowering indigenous Zimbabweans.

Labels: DAVID CHAPFIKA, NATIONAL INDIGENISATION AND ECONOMIC EMPOWERMENT BOARD - ZIMBABWE

posted by MrK @ 12:56 AM