About turn on indigenisation

In its first policy reversal since it won the 31 July elections the Zimbabwe African National Union-Patriotic Front government said it will not evict foreigners operating in business sectors reserved for locals. The deadline for foreigners to leave the sectors was 1 January. Indigenisation Minister Francis Nhema was today quoted as saying: “We are a business community, which should follow proper business procedures and maintain sanity in our country. All business takeovers should be done and finalised through the National Indigenisation and Economic Empowerment Board. It is important for Zimbabweans to understand that economic empowerment relates to the creation of wealth by locals as well as employment. As Government, we have emphasised broad-based economic empowerment, giving access and opportunity to those who were looked at marginally in the economics of the past. What we are saying is: new licensing in reserved sectors, from January, will be skewed in favour of indigenous people. Those foreigners operating in the reserved sectors of our economy should continue.”

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