Parliament calls on government to investigate Kasukuwere over Marange–Zimunya Community Share Ownership Trust within 14 days

2.2 Policy Framework

The Indigenisation and Economic Empowerment Policy informs and guides the coordination of the national indigenisation and economic empowerment agenda primarily through the implementation of the Indigenisation and Economic Empowerment Act [Chapter 14:33] as read with Indigenisation and Economic Empowerment regulations of 2010. The policy, if well implemented, facilitates the institution of measures to ensure participation in the economy by a broad spectrum of the indigenous Zimbabwean population. Thus, the policy drives a noble cause of economically empowering indigenous people who were historically disadvantaged before and after our independence in 1980. The Act seeks to bestow majority ownership and control of the country’s resources to the black majority. More specifically, the Act advises that at least: “51 per centum of the shares of every public company and any other business shall be owned by indigenous Zimbabweans”. The Indigenisation and Economic Empowerment Act also provides for the creation of an Empowerment Fund to finance the acquisition of working capital, shares, and other forms of finance for indigenous people.

2.3 ZIMASSET and Community Development

The Zimbabwe Agenda for Sustainable Socio-Economic Transformation not only complements the Indigenisation and Economic Empowerment Policy in its goal to revive the economy, but maintains indigenisation and empowerment as its core thrust. The foreword of the blueprint, penned by His Excellency, President Robert Mugabe, reads, “ZIM-ASSET was crafted to achieve sustainable development and social equity anchored on indigenisation, empowerment and employment creation which will be largely propelled by the judicious exploitation of the country’s abundant human and natural resources.” Additionally, the Cluster on Social Services and Poverty Reduction directly refers to the establishment of CSOTs as a key deliverable for improved economic empowerment and indigenisation. CSOTs, therefore, act as vital vehicles through which some of the ends of ZIM- ASSET are to be met.

The M-Z CSOT was officially launched on 25 July, 2012 by President Mugabe. It is at this launch that the five companies operating in the area, namely, Anjin Investments, Diamond Mining Company, Mbada Diamonds, Marange Resources and Jinan Investment Private Limited, allegedly pledged to contribute US$10 million each to the Trust. To date, the diamond mining companies have remitted a combined total of just $400 000 out of $50 million in pledges. It is against this background that the failure by diamond mining companies to honour their alleged $50 million pledge towards the M-Z CSOT scheme is widely viewed as having stalled development programmes in the community.

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