Chronicle Editor
Michael Magoronga, Midlands Bureau
THE revised indigenisation and economic empowerment policy is expected to buttress the National Development Strategy 1 (NDS1) as the country moves towards achieving an upper-middle income economy status by 2030.
Former Industry and Commerce Minister, Dr Mike Bimha, who is also Zanu-PF Secretary for Indigenisation and Economic Empowerment said this recently while officially launching the revised policy in the Midlands province.
He said the policy had to be reviewed to enhance the economic transformation drive under New Dispensation led by President Mnangagwa.
The former Cabinet Minister said the indigenisation policy, introduced by the late President Robert Mugabe almost a decade ago, had to be revised so that it speaks to the new economic trajectory.
“So many things have changed, including policies. The party, therefore, had an indigenisation and economic development (policy) which was in place but a lot of things have happened that necessitated us to review the policy,” he said.
“We have the coming in of the new Government with its thrust on economic development and growth. We, thus, had to review the policy so that it goes in tandem with the mantra ‘Zimbabwe is open for business’”.
Dr Bimha said many factors necessitated the revision, which led the ruling party to approve and adopt the revised policy in 2020. In unpacking the policy document, he said it seeks to empower locals to be masters of their own destiny.
“As Zimbabweans, we cannot wait for someone else to grow our own economy. We should be masters of our destiny as a nation is built by its owners,” he said.
Dr Bimha said foreign investors should come in to support local investors instead of taking over.
He said the policy targeted everyone from youths, women, the disabled, war veterans and anyone who might require startup capital. The policy also provides for some reserved sectors, which were set aside for Zimbabweans.
“You cannot be an investor to come in and start a hair salon or venture into artisanal mining. No, that is reserved for local people. Foreign investors should concentrate on corporate mining if it is mining,” said Dr Bimha.
“But as locals, we should also not fold our hands and allow the foreigners to take up opportunities while we watch.”
The policy also seeks to ensure that all retired professionals can become mentors to people who want to start businesses. Ensuring that the Government prioritises local companies when procuring goods and for companies to be able to develop the areas they operate from, among others, are some of the key focus areas.
Local Government Minister, July Moyo, Public Service and Labour Minister, Professor Paul Mavima, State Security Minister, Owen Ncube, Midlands Provincial Affairs and Devolution Minister, Larry Mavima also graced the occasion.
Also present were ZNCC president Dr Tinashe Manzungu, Chitepo School of Ideology Principal, Dr Munyaradzi Machacha and Business Economic and Empowerment Forum (BEEF) president, Mr Solomon Matsa among others.
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