adminsuccessfully launched community share ownership schemes last week.
In terms of the Indigenisation and Economic Empowerment Act, firms are required to set aside a five percent stake for ordinary workers and three percent for management.
Government launched the Zimplats Community Share Ownership Schemes for Mhondoro-Chegutu and Zvimba communities last week. Youth Development, Indigenisation and Empowerment Minister Saviour
Kasukuwere yesterday said foreign and local firms were required to set up community and employee share schemes to fulfil indigenisation requirements.
“This programme will be the second phase of implementation that will see the generality of workers in all companies acquiring a stake and becoming part-owners of the business.
“My Ministry is working with employee representative organisations and companies to implement the employee and management share schemes. I envisage the launch of these schemes in the next few weeks starting with Schweppes, Meikles Holding Limited, Engen and BP Shell, which have allocated significant equity to workers’ trusts. It should be noted that the fundamental principle underlying this process is that communities
must directly benefit from the exploitation of their God given natural resources,” he said.
“The governors and resident ministers and the local leadership shall play the leading role in the administration of empowerment schemes in the rural areas. The proceeds accruing to the Community Share Ownership Trust from its equity participation in the business shall be used for the provision of socio-economic infrastructure in line with the priorities of the community.”
Minister Kasukuwere said more community share ownership trusts would be launched in the next few weeks. Some of them would be at Hwange Colliery, Mimosa and Marange diamond fields.
Minister Kasukuwere said the indigenisation programme was a Government project and not a party project. He said the whole Cabinet was behind the empowerment drive.
He said what Prime Minister Morgan Tsvangirai said at rallies was his party’s views and not those of the Government.
“This is a national project which has nothing to do with politics, its unfortunate that other people have decided to politicise it because Zanu-PF has been aggressive on the issue of empowering our communities,” said Minister Kasukuwere.
“The problem is that when some people want money for elections, they try to distance themselves from a national project. You have a problem if you have a group of whites who ask if you are part of it (indigenisation and empowerment).”
The minister said if the MDC-T had suggestions for empowerment, they were free to approach him.
Peter Tanyanyiwa
Online Reporter