adminparties, which constrained the vanguard party from pursuing its polices.
Zanu-PF was, however, discerning, particularly when it eventually took note of the need to ensure finite mineral resources are exploited to empower the majority of Zimbabweans.
In its people-centred election manifesto dubbed “Indigenise, Develop and Create Employment” Zanu-PF has targeted unlocking US$1,8 trillion value from idle reserves of coal, diamonds, chrome, gold, platinum, chromite, nickel, copper and iron ore.
Research has indicated that at least 13 million tonnes will be realised from exploiting gold reserves, 2,8 billion tonnes platinum, 930 million tonnes chromite, 4,5 million tonnes nickel, 26 billion tonnes coal, 16,5 million diamond, 30 billion iron ore and 5,2 billion tonnes from copper. The research concluded that a total of 12,999 million tonnes of gold reserves remain unallocated while the figures stands at 2,788 billion tonnes for platinum, 925,5 million tonnes for chromite, 4,45 million tonnes for chromite, 25,976 billion tonnes for coal, 16,496 million tonnes for diamonds, 29,998 billion tonnes for iron ore and 5,2 billion tonnes for copper.
The process of unlocking further value from minerals would follow the indigenisation of foreign-owned companies through acquisition of least 51 percent stake and transfer thereof to locals.
According to the manifesto, the indigenisation programme would result in the transfer of at least US$7,3 billion into the hands of previously marginalised indigenous people.
“President Mugabe has directed on many occasions, the crux of the policy of indigenisation and people’s empowerment is not to be found in the indigenisation of foreign companies for the indigenous Zimbabweans to acquire 51 percent equity,” the party said.
“(The crux of the policy is) in the unlocking of value from hitherto idle or sitting assets from Zimbabwe’s unexploited natural and economic resources that should be used for total or 100 percent empowerment of the indigenous population.”
It is, however, critical to take note of the fact that while reclaiming control of the wheels and assets of wealth creation Zanu-PF has remained alive to the need to create new jobs with 2,2 million jobs targeted over the five-year period after the election.
Taking back control of the means of material production and the strategic mineral resources through indigenisation will enable Zimbabwe to chart its own course for economic growth and development at a time most Western nations have turned hostile.
The mainstay of Zanu-PF’s indigenisation and empowerment programme is enabling Zimbabweans, especially the youth, women, professionals and entrepreneurs to access empowerment assets from natural and economic resources from development banks to start or acquire cutting edge business enterprises owned largely by the indigenous population.
As things stand, the majority of indigenous people have been reduced to economic bystanders in their country due to lack of resources and high unemployment levels caused illegal Western sanctions imposed after Government embarked on land reform to resettle the majority indigenous people on productive land.
Online Reporter