Zimbabwe’s new indigenisation minister has vowed to push on with President Robert Mugabe’s controversial programme for black empowerment, state media reported Saturday.<\/p>\n
Patrick Zhuwao, who is Mugabe’s nephew, told the official Herald newspaper: “As you are aware, this ZANU-PF government was elected on a mandate of indigenisation, empowerment and employment creation.<\/p>\n
“So I believe that it will be my responsibility to ensure that we continue with that programme of indigenisation as articulated by His Excellency [Mugabe]”, Zhuwao said.<\/p>\n
The well-known businessman and farmer said he would “pick up” where his predecessor left off, a reference to Christopher Mushohwe who was named information minister in Friday’s cabinet reshuffle.
\nMushohwe recently signalled a slight softening on indigenisation, which requires all large white and foreign-owned businesses to cede a 51% stake to local black businessmen.<\/p>\n
Critics and the opposition Movement for Democratic Change believe the policy is scaring off desperately-needed foreign investment, and some in the ruling party share that view.<\/p>\n
The official Chronicle newspaper on Saturday quoted Jacob Mudenda, a member of ZANU-PF and Speaker of Parliament, calling for urgent amendments to the indigenisation laws “to make it easy for investors to invest in Zimbabwe.”<\/p>\n
Source – News24<\/a><\/p>\n