‘No going back on indigenisation of banks’

opposed to this empowerment programme does so at its own peril, a Cabinet Minister said yesterday.

 

Speaking during a stakeholders meeting on indigenisation in Lupane, Matabeleland North, Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere said the Government would not be deterred by anything in implementing the indigenisation drive.

He warned that Government would not hesitate to take over defiant institutions.

“There is no going back on the indigenisation of banks. Some banks want to show off and pretend as if they are coming from heaven. That attitude must change. These are the very banks that supported the whites in the past and we want them to support our people now,” said Minister Kasukuwere.

“We are aware that some sections of our community are opposed to the empowerment drive. But this is a Government programme and all sectors of the economy must cede 51 percent of their shares to locals including banks.

“Those who are opposed to this proposal do so at their own peril. They cannot do that now because there is a law. There are no sacred cows in this country, no sacred institutions that we will not indigenise.”

Minister Kasukuwere urged people in the province to participate fully in the empowerment programme by identifying economic sectors that they wanted to venture into.

“President Mugabe always insists that wealth should be in the hands of the ordinary people. The indigenisation programme is there to transfer the economy to you. We expect the chiefs to take the lead. It is us alone who can uplift the economy of this country. We fought the war so that we can get freedom and be in charge of our resources and the economy,” said the Minister.

“It is not that we do not want foreigners but we are saying foreigners should work with our people in a win-win situation. All companies should comply with the law and those who do not want should ship out. We will be happy if they do and we will take over.”

Speaking at the same occasion Matabeleland North Governor Thokozile Mathuthu said the indigenisation programme was a positive response to the developmental needs of communities in the country.

“Indigenisation is there to empower ordinary Zimbabweans and ensure that they benefit from the natural resources in their communities,” she said.

Meanwhile, stakeholders said they were finalising preparations for the launch of the Community Share Ownership Trust/Scheme (CSOT/S) in the province.

Although dates are yet to be announced, at least 10 mining companies have shown interest in ceding shares to the community and participating in the programme.

President Mugabe has launched the CSOT/S in Matabeleland South, the Midlands, Mashonaland West and Manicaland.

The trusts are already bearing fruit.

The meeting was attended by Environment and Natural Resources Management Minister Francis Nhema, 22 chiefs from the seven districts in Matabeleland North, directors of parastatals, rural district councils’ officials, district administrators, farmers and members of the business community.