Maravi

(NEWZIMBABWE) People want jobs, not indeginisation: Khupe

COMMENT - The MDC wants Zimbabweans to work for whites and foreigners, and not be owners of their own country. Sellouts.

People want jobs, not indeginisation: Khupe
by Staff Reporter
03/10/2010 00:00:00

DEPUTY Prime Minister Thokozani Khupe has said Zimbabweans are more interested in jobs rather than ownership of companies and inisted the government’s indeginisation programme was a death knell for the country’s largely comatose productive sectors.

Khupe, who is the deputy leader of the MDC-T told the party’s supporters in the United States that the government’s controversial indigenisation laws would impede economic recovery by scaring away much-needed foreign investment.

“Our people are not crying for ownership of industry. They need jobs to be able to feed their families,” she said.

Under the country’s empowerment laws, foreign-owned companies are required to ensure at least 51 percent of their shareholding is controlled by locals.

But Khupe said the legislation was a threat to economic recovery.

“This is not the time to implement the indigenisation program in the form and shape defined by ZANU PF. With 90 percent of Zimbabweans unemployed and whole industries closing down, it is very futile for the ZANU PF leadership to be calling for wholesale indigenisation of the few remaining industries,” she said.

The coaltion government is split along party lines over the legislation.

Khupe said Zimbabweans did not have the resources to acquire the 51 percent shareholding in the targeted companies adding that the programme was not aimed at empowering ordinary people.

“Who has the money to buy the 51 percent of the shares they want off loaded? Who will buy those shares?

[And who has the money to buy Zimbabwean state assets when they are privatised, Deputy PM Khupe? I'm sure you would prefer white foreign ownership of Zimbabwe's assets. - MrK]

“Is it the people in my constituency of Makokoba, or Dotito or Muzarabani? No. (It) will be the same connected individuals that continue to feed on the economic and corruption trough,” Khupe said.

[So it would be better that they were owned by LonRho and Anglo American de Beers, right? - MrK]

Zimbabwe’s coalition government appears split along party lines over the indeginisation programme which has also triggered gitters among foreign investors.

A review targeted at coming up with sector-specific thresholds is underway and companies, particularly in the mining sector are also hoping that consideration will be given to social spend in communities as well as infrastructure development.

[In other words, she is shilling for the mining industry, which hopes that the odd support for a football team or a road to their mines will get them out from under paying taxes or sharing profits. - MrK]

Labels: THOKOZANE KHUPE

posted by MrK @ 1:49 PM