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In crafting the Indigenisation and Economic Empowerment laws, Government’s overriding objective was to put the economy into the hands of the black majority.However, there were misconceptions about the indigenisation and empowerment agenda.
In some circles, it was said the whole programme was designed to benefit only a few influential individuals at the expense of the majority.
Government has a huge task to effectively communicate the various aspects of this home-grown policy to shame detractors determined to maintain or perpetuate the erstwhile neo-colonial set up.
They have peddled a lot of lies regarding indigenisation.
If that was the case, then how did entire communities like those in Zvishavane, Shurugwi, Selous and Zvimba benefit from the concept of Community Share Ownership Trusts?
Millions of dollars were pumped into these communities resulting in extensive infrastructure development projects ranging from education, health and water resources.
This was a welcome development that was missing in the development matrix of these areas since the suspension of Public Sector Investment Projects.
This was fresh capital that also created several jobs with the prospects of breathing life into communities that had long been forgotten in the wake of dollarisation.
Central to the issue of indigenisation is our sovereignty and it is imperative that indigenous Zimbabweans have access and ownership of resources and control over the economy.
Indigenisation and economic empowerment seek to create a national, vibrant and sustainable economy.
Having completed the first phase that was targeted at resource firms, the focus then shifted to foreign-owned companies and despite some initial resistance, more and more companies moved to comply with the country’s indigenisation law which essentially requires them to ensure that the majority shareholding in the firms is in the hands of Zimbabweans.
Workers in several companies including Schweppes Zimbabwe, Old Mutual, BAT Zimbabwe, Zimplats and Mimosa are now shareholders in those entities through innovative employee share ownership trusts as a result of this empowerment thrust.
From the statistics released by the Ministry of Youth Development, Indigenisation and Empowerment, there is increasing acceptance of the policy with more than 1 000 foreign-owned firms having so far submitted their indigenisation compliance plans.
Nearly half of the plans have been approved while others have either been rejected or referred for fine-tuning in line with the indigenisation policy.
Outgoing Indigenisation and Empowerment Minister Saviour Kasukuwere has been at pains to explain the policy and economic imperatives of indigenising the economy to ensure that it truly reflects the fundamental principles that Zimbabweans must own and primarily benefit from the exploitation and utilisation of their natural resources.
There is also the issue of equal opportunities for all, and the need to eliminate ownership of wealth along racial lines. It is only through this opportunity that Zimbabweans can be responsible for and committed to determine their destiny.
Fears that the indigenisation and economic empowerment policies are scaring away investors should be effectively addressed once and for all to put matters into perspective.
Contrary to the prevailing opinion, the policy actually guarantees foreign direct investment by insisting on mutually beneficial partnerships between indigenous and non-indigenous investors.
It follows naturally that the responsibility for liberating Zimbabwe politically and economically lies primarily with Zimbabweans rather than total dependence on foreign investors.
We are our own liberators.
We should therefore place realistic expectations on foreign investors who come here primarily for good returns on their investments rather than develop Zimbabwe.
Should any such contribution towards our development be achieved then it is a by-product of their investment rather than the primary motivation of foreign investment.
We should all strive to build a prosperous society rather than islands of prosperity in a sea of poverty.
Online Reporter