Question Number TWO is the issue of indigenisation. There have been so many conflicting statements and war of words between Indigenisation Minister Patrick Zhuwao, who is Mugabe’s nephew, and Finance Minister Patrick Chinamasa who is widely believed to be in Mnangagwa’s camp.
Mugabe backed down on his tough stance on indigenisation and hinted that the law, which requires that locals must have at least 51 percent of all foreign-owned companies with a value of $500 000 and above, will be amended.
But analysts argue that too much weight is being put on Mugabe’s statement forgetting that indigenisation is already a law which has to be amended by Parliament to take any effect.
Zimbabwe’s indigenisation policy has been blamed for the low foreign investment in the country but it has been hailed by other African countries which have seen massive foreign investment not benefitting their people at all.
Instead the investment has led to greater inequality among the people with some becoming filthy rich while the majority are worse off.
Continued next page:
(568 VIEWS)
