Indigenisation report gets politburo’s nod

recommendations presented by the party’s secretary for indigenisation and economic empowerment, Cde Saviour Kasukuwere.
Speaking to journalists after the extraordinary Politburo meeting at the party’s headquarters, Zanu-PF secretary for information and publicity Cde Rugare Gumbo said they had unanimously endorsed the report and it will be taken to Cabinet for consideration.
He said the Politburo also made recommendations on a few areas regarding shareholding thresholds per sector.
“Cde Kasukuwere gave us a rundown of what he has been doing.
“It was a detailed report on all sectors of the economy and the report was well received and accepted by the Politburo as a good report.
“In the mining sector the Politburo noted that Cabinet has already approved 100 percent State ownership of all alluvial diamonds and 51 percent of other diamonds and other minerals.
“In this regard Cabinet also resolved that a Sovereign Wealth Fund should be set and capitalised from financial proceeds of the mining sector in the form of dividends and other income,” he said.
In the banking sector, Cde Gumbo said, it was noted most financial institutions were foreign-owned and it was recommended that all banks should be under reserved sectors of the economy.
However, exceptions could be made by the Indigenisation Minister. Cde Gumbo said credit lines should be made available to farmers to promote small-scale farmers while a budget should be set aside for an extensive marketing campaign to re-brand Zimbabwe’s tourism sector.
Meanwhile, Cde Gumbo said they were finalising provincial launches of the National Anti-Sanctions Petition Campaign.
“Our commissar Cde (Webster) Shamu infor-med me that all was almost in place to start distributing the petition in provinces.
“The papers are being printed and will be ready any time soon.”