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Home > HOME > Zimbabwe reviewing indigenisation law: PM Tsvangirai

Zimbabwe reviewing indigenisation law: PM Tsvangirai


Tendai Marufu

Tue, 23 Jun 2009 17:29:00 +0000



PRIME Minister Morgan Tsvangirai said Zimbabwe is reviewing its indigenisation law and would likely lower the 51% requirement for local ownership of foreign firms investing in the country.

Speaking at a mining conference in London on Tuesday Prime Minister Tsvangirai said, "We are reviewing mining laws. Fifty-one percent is far, far too high."

He added that the new inclusive Government hopes to agree to a new local ownership level that is "comfortable" for investors, but still beneficial to the mineral-rich nation.

Tsvangirai said he supported the concept of encouraging local businesspeople, but the law also had to be fair to overseas investors.

"There's nothing wrong with indiginisation, for allowing local Zimbabweans ... to participate in the economy of the country," he said.

"What is wrong is to expect someone to bring money into the country and say we will take 51% of that."


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ARTICLE ATTACHMENTS

READER OPINIONS

Hustler of Harare • na
Subject: TO INVEST OR NOT?
Wed, 24 Jun 2009 22:33:47
• I am highly amused.
These comments are hilarious.
Everyone shouting their mouths off - 6,000 miles away in Britain thinking they will make a big difference?
One does not have power if one is not on the inside of the three ringed circus - so what are you all protesting about?
No one is going to listen to you ova here.

If you are anti-investors why dont you go home and put your backs to the wheel? Whatever business you are in, its easier to survive by attracting investors at the best possible deal.
Everything will go according to plan as planned by those at home on the ground. Not by the rest of you jumping up and down on the sidelines while happily paying 54% of your hard earnerd money going in tax into the deep pockets of Gordn Brown and his cronies.


isaac bwoni • ibwoni@gmail.com
Subject: Participation
Wed, 24 Jun 2009 11:52:27
• If the PM does not want to participate in the economy of his country he must not block us. For whom is 51% too high an ownership of a company? We do not want a situation like the one that exists down SA where the cake is worked for by Blacks and enjoyed by Boers. If the PM does not want to venture into mining, then he should not think that all of us are of the same feeling.


Mhofeti • pasizw@yahoo.co.uk
Subject: Zimbabwe reviewing indigenisation law: PM Tsvangirai
Tue, 23 Jun 2009 22:01:57
• I think our PM must not worry too much about giving his audience a view that he is his own boss. I hope he consulted wide enough to a point of confidently say .....51% is far, far too high. How can our PM be nervous of even a 50-50 ownership of our God given natural resources? Simplifying indigenisation as......someone bringing money into the country and we say we will take 51% of that... is a mischievious misrepresentation especially by the high and good office of the head of government. Has anyone told the PM that this ownership can be achieved through selling of shares? It's ok for our PM to worry about what's comfortable for investors, as long as he also find time to worry about what's comfortable for the citizens of the mineral-rich nation. Otherwise this may be read as a subtle campaign to the international community that if it was an MDC government we would review the indigenisation law to suit the investors


SuperT • n/a
Subject: Food for Thought on Indigenisation
Tue, 23 Jun 2009 19:57:44
• ''Africans will not transform this country through previously dominant foreign rules, values or cultures. No dominant group ever transforms society through subservience and alien values... now that Africans are dominant we must Africanise and not apologise for our Africanness... When we say “Mayibuye iAfrika” we mean it and mean business.'' – Malegapuru Makgoba (2005), Vice-Chancellor of the University of KwaZulu Natal

''Let them remember that indigenization does not, and shall never, mean empowering crooks who cut business corners and thrive on dirty deals. Certainly, it does not mean putting your shameless indigenous finger into the national till.'' – Robert Mugabe (2004), President of Zimbabwe.

Ndatenda Hangu/ Siyabonga


n/a • n/a
Subject: He May Have a Point
Tue, 23 Jun 2009 18:03:28
• He may have a point. But one wonders just how far Zim is going to go to attract these same investors who might have had had something to do with the sanctions that brought Zim to her knees in the first place.

For this reason, many wonder that with such a radical approach to bring about Africanization of Zim natural resources, why didn't Zim engage the Chinese in multiple cultural exchanges of mutual benefit, e.g., instruction in farming techniques, etc., that would have kept Zim from falling back on the assistance of those who would not view Africanization favorably.

After 10 years of suffering, are all roads leading back to England?


n/a • n/a
Subject: n/a
Tue, 23 Jun 2009 17:54:27
• The big sell out now really begins. What does Tsvangirai mean by stating that there is nothing wrong for allowing local Zimbabweans to participate in the economy. So under Tsvangirai, Zimbabweans will be allowed not empowered to participate in the economy. This is a disgrace.We own the resources, don't we?


MrK • bannie2020@hotmail.com
Subject: Corruption
Tue, 23 Jun 2009 17:53:36
• Watch here, the beginning MDC sell-out of Zimbabwean assets. We've seen this before in Zambia, where the economy missed out on a historic record prices of copper, the country's main export. This was because ministers would rather take kickbacks from the mines than to see their country profit. It is the lack of nationalism and national pride that makes this kind of mentality possible. Beware of the MDC, and keep close tabs on their attempts to sell out the country's assets.



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