19 firms defy Zanu PF empowerment policy

via 19 firms defy Zanu PF empowerment policy December 16, 2013 by Bernard Mpofu NewsDay

ZANU PF has turned the heat on 19 foreign-owned companies that have allegedly defied government policy to indigenise and called on its government side of the administration to penalise the firms.

According to a Zanu PF central committee report presented at the party’s annual conference in Chinhoyi at the weekend, some major international firms had partially complied with the law resulting in successful employee and community share ownership schemes, but others had “wilfully defied it due to confusion caused by dissenting policy position during the tenure of the just-ended inclusive government formed in 2009”.

Part of the report reads: “There was no significant movement in defiant companies towards compliance . . . From experience it is now known that the current law is weak with regard to compliance enforcement mechanisms.

“Because there is no means to ensure companies submit indigenisation plans or implement their approved plans, many of these companies have either chosen to remain under the radar, ignored calls for or have refused to implement indigenisation plans.

“Provisions in the Act and the General Regulations pertaining to enforcement of compliance requires strengthening. Compliance must balance punitive measures and incentives, but must be effective and discourage wilful non-compliance,” the central committee said.

Under the country’s empowerment laws, foreign-owned firms are obliged to sell 51% stakes to locals.

The list of defiant firms was given as South African mogul Mzi Khumalo’s Metallon Gold; Duration Gold Zimbabwe; Murowa Diamonds; Tongaat Hulett; Standard Chartered Bank of Zimbabwe; Zimasco; Zimbabwe Granite International; Noral Private Limited; Barrow Properties; KW Blasting Specialists; Astiz Private Limited; Lady Anna Custom Milling; Kenilwold Investments; Cable Cast Enterprises; Plate Glass Company Zimbabwe Limited; Pioneer Hybrid Zimbabwe; Stramit Centre Africa; Illford Services and Pannar Seed.

 

Tagged with:
Posted in the latest articles
12 comments on “19 firms defy Zanu PF empowerment policy
  1. Tjingababili says:

    EMPOWERMENT IS LEGALISED THEFT AND RAPE!

  2. Sekuru Mapenga says:

    An unwise policy that will send the economy even further downhill — for sure Zanu PF will pursue it, because there will be cake for the big-wigs..

  3. Nyoni says:

    All firms should refuse to comply with these stupid rules and see what the crooks will do.

  4. tino says:

    True leaders create a conjusive environment for for the indigenous to enter into business.This will nsure that even those with very little cash resources will feel protected and get the necessary support to further develop their small enterprises.Taking 1 million shares from A and give them to B does not grow the economy at all.Actually it creates anxiety and suspicion.Since the government wants economic development, start promoting export initiatives at Siya So, Mbare, and all other informal places.Who then will get the shares in those companies? Standard Bank has done exceptionally well, featuring in the top 100 commercial banks in Africa despite a hostile and uncertain Zimbabwe.
    If ZANU PF doesn’t want to be called fools, of which they are, they must put all their energy in making sure that agriculture is at its feet.Zimbabwe had the largest dairy farm at Mt hampden, the largest in South of the Sahara.Nicole in Chinhoyi,was the undisputed grain king in Southern Africa.All these were not good achievement to be spared.Please ZANU PF ,lets have the country at heart and stop this barbaric act.Angola, Tanzania, Mozambique, Rwanda and the rest of SADC are busy courting investors and we are busy scaring the few that are left.Surely Mugabe is now a blind man who whn asking the olour of the shirt, he is just told any colour, and then accept.

  5. thembani says:

    Tino, you got it right.Invasions and forced seizure of businesses, will continue to destroy Zim.

    • Gutu says:

      Thank you Tino,these zanu pf idiots do not have shame. Each i pass by Nicole’s former farm and see those silos my heart really aches.They have become breeding places for bats and birds while those who took over the farm look elsewhere. I cannot believe human beings can stoop so low and enjoy destroying the country’s livelihood to the point where the country is now. They are just greedy. If they had told the people that they would subjugate them after independence from colonial settlers , I dont think the country was going to be liberated sooner than it did. Zanu is full of cruel people to say the least and history will surely judge them. They must leave industries alone and concentrate on bringing in more companies into the country to create employment which is desperately needed by millions of people. If people ululate at what mugabe says they must remember he is doing his last kicks and they are the most dangerous. Vanotambura ndoovanosara iye afuka rake ega!

  6. gorongoza says:

    The same ZANU PF government took Shabanie and Mashaba Mines from Mawere (a black person) and continued to strip the company to a skeleton, selling this and that piece of equipment. Now both Gaths Mine and Shabanie Mine have since stopped producing completely. Men and woemen lost their jobs and families suffered. They want to continue in that path of destruction for they never learn and have a overflated sense of invincibility. Lets see them take over all these operating mines and you will be assured that the mines will not be operating in just under 3 years! We have seen that before and its always the headline when they control things. They only know destruction!

  7. munzwa says:

    Did you see the word “sell” the 51% shareholding. Think a lot of companies would be happy to sell 100%

  8. Michael says:

    Indigenization is an abhorrent racist apartheid policy.

    Indigenous = ZANU-PF.

    The people of Zimbabwe are NOT indigenous. One is only indigenous if one is a Zanu crony.

    Apartheid – definition: a policy or system of segregation or discrimination on grounds of race.
    Indigenization – definition: a policy or system of segregation or discrimination on grounds of race.

  9. Before the farm invasions I had a discussion with a friend B.. I said to him B.. you can see what’s happening sell and move into town and see what happens.He was stubborn and said “do little I am and have been helping in my community. There is no way that this is going to affect me.You not white like me but you don’t know much about the farming community.” When B left his farm he left with his Datsun pick up only.If these guys don’t do what these people want that will happen. They are between a rock and a hard place.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>