Zim PM dismisses Zanu-PF led asset grabs

2012-07-04 11:06

Cape Town - Zimbabwean Prime Minister Morgan Tsvangirai has dismissed Zanu-PF led indigenisation plans for banks and other key sectors, in a move set to deepen cracks in the country's already troubled unity government.

The country's indigenisation minister Saviour Kasukuwere last week gazetted a notice announcing that all foreign-owned banks and other sectors including privately-owned educational institutions would be grabbed in line with the controversial indigenisation laws.

But Tsvangirai dismissed the announcement, saying in a statement on Tuesday that "there is no such government position because no such issue has been discussed and agreed upon by cabinet".

He said government had not sanctioned Kasukuwere's actions, which were "a threat to investment in the country".

"The Indigenisation and Economic Empowerment Act does not empower the minister to act and to project an image of a voracious government keen to compulsorily grab almost all institutions and companies in the country."

Zimbabwe's indigenisation programme initially targeted mines, but is now a blanket plan over all sectors of the economy covering finance, tourism, arts and entertainment, engineering and construction, telecommunications and the motor industry.

The indigenisation laws require foreign owned firms in the country to hand over 51% of their shareholding to indigenous Zimbabweans.

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  • Gavin - 2012-07-04 11:30

    indigenisation = we want what you have as we're to f'ing lazy to do it ourselves. all aboard the mugarbage express choo choo !!

      Ian - 2012-07-04 11:33

      more like the muguly express poo poo

  • scouter.fourone - 2012-07-04 11:52

    And this everyone, is exactly what the ANC has in mind for SA...

  • phumi.ntlabati - 2012-07-04 11:58

    Zimbabwe is on the forefront of radically transforming itself from colonial rule. A move that is supposed to be applouded by all peace and democracy loving Africans. The ANC should be ashamed and full of envy to see what they are providing lip service on that ZanuPF is achieving next-door. In the next 10 to 15 years Zimbabwe will supress us as the economic power in the region and continent at large! We need decisive leaders in this country and one showerhead is not the right man to deliver us to our jerusalem! Viva Zanupf viva!

      customdesign - 2012-07-04 12:07

      All this at the cost of many people losing jobs and families going hungry. You really think it was worth it? Zanu PF have murdered their own people and have stolen their future

      faan.kruger.9 - 2012-07-04 12:11

      If you are right, the plusminus 5 million Zimbabwean refugees working in SA will turn the tide around to the Utopia you foresee in Zimbabwe. My wild guess is that you live in a dreamworld....but only time will tell.Hope you are still around 10 to 15 years from now. I also have another opinion about colonialism. The END of colonialsm devastated Africa....and is continuing to devastate this continent but for the racists rulers that is far to much to admit while they plunder and steal uncle Bob.

      silindile.mabaso.9 - 2012-07-04 12:16

      Zim is a countru in turmoil, what is happening there should not be applauded by anyone, least of all by peace loving Africans. And as for the \end of cololnialism\ devastating Africa, you are wrong. It was the start. Before the colonialists got here, this concept of poverty was foreign, no man went hungry.

      Shaun - 2012-07-04 12:59

      Haha!! I haven`t laughed that hard in ages. Phumi, you should be a comedian.

      Sharon - 2012-07-04 13:34

      thick as pig sh-t

      henry.bosman.5 - 2012-07-04 15:47

      Lose your job again phumi. Haven't read your fantasy garbage in a while - 2012-07-04 16:26

      Phumi, Zimbabwe is leading no-one anywhere, so I'm not sure you're thinking straight. Like most African countries, it is going backwards while it's 'leaders' take all the money. I cannot applaud any action where the politicians get richer at the expense of the poor, regardless of colour. If there are 3 to 5 million Zimbabweans working and living in South Africa, why are they here? Not because Zimbabwe is such a great place to be - don't you think?

      mark.tunstall.18 - 2012-07-04 17:18

      Hey I've had a tough day, please, what you smoking? I too need a drastic break from reality.

      rob.tubbs.39 - 2012-07-04 18:24

      Hey Phumi - You smoking your socks ? Either that or you are still waiting to collect your 'brain' (if you ever had one) from the Hospital. Who by the way are still trying to decide from which 'cave-man' it comes from. You Sir are a complete 'dipstick' Where do you live (not Planet). How long do you need to 'transform from colonial rule' - which by the way was far batter than living under a murderous 'oppressor'.... Ask any one of million Zimbabweans living in that 'barren wasteland'.....

  • Craig - 2012-07-04 12:15

    Phumi, I would like to offer some constructive reply but Peace, Democracy, Zimbabwe - just dont go together, as for an economic power I sincerely wish you good luck.

  • nicole.stuart.7792 - 2012-07-04 15:49

    Has anyone noticed that the SA Government is following in the footsteps of Mugabe?

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