Maridadi says a Chinese company is making a killing in Zimbabwe -importing dishes for only two cents and selling them for $6

Madam Speaker, there is Capri Corporation, a wholly owned Zimbabwean company.  In the past two years, Capri Corporation has invested $15 million into the manufacture of refrigerators and stoves.  They made a profit of $200 000 in 2015.  If you are in business and you invest $15 million and make a profit of $200 000, get out of that business.  You would rather put that money in a bank.  Where you have an interest rate of 5%, you are able to make more money than you are making in manufacturing.

The reason why Capri is making that meager profit is because there is Samsung.  Samsung is a South Korean company that has been given a licence to manufacture in Zimbabwe.  If you go to Samsung in Harare today, all you see is an office the size of this desk.  That is all they have.  They bring complete refrigerators to sell in this country competing with refrigerators from Capri and the other company which does industrial refrigerators.

Madam Speaker, if you go to Capri, which I visited about three weeks ago, it is a hive of activity but they are operating at 40% of capacity because of Samsung.  Why are we bringing Samsung into Zimbabwe when we have our own company that is manufacturing in Zimbabwe?  Samsung could not go into Zambia.  In South Africa, their products have knocked down the prices of refrigerators but they now have a ready market in Zimbabwe.  They have been given a ready market in Zimbabwe, they are militating against our own companies and we are exporting jobs to South Korea.

Madam Speaker, I would like to thank you for your time but I want to say the attitude of senior Government officials who protect corrupt people, especially Chinese must stop.  In my next installment which is coming very soon, I am going to name and shame you.  What I am urging Hon. Ministers and Hon. Members of Parliament who are protecting these people is to please stop forthwith so that you avoid the embarrassment of me standing up here because I will name you. I will say your first name, second name, surname and the constituency that you represent.  Thank you Madam Speaker.

(763 VIEWS)