Debate on indigenisation in bad taste: Nhema

via Debate on indigenisation in bad taste: Nhema May 29, 2014 by Tarisai Mandizha NewsDay

INDIGENISATION and Economic Empowerment minister Francis Nhema has expressed concern over the current indigenisation debate saying it was being discussed through inappropriate channels.

This follows media reports quoting Information Minister Jonathan Moyo as saying government was in the process of reviewing the indigenisation and empowerment policy with a view to tone it down.

Speaking at the Institute of Chartered Accountants of Zimbabwe Chief Finance Officers’ Forum on Tuesday, Nhema said the whole debate was not supposed to be in the public domain.

“The debate in the paper left a sour taste in my mouth,” Nhema told delegates “It was not the place to discuss it.”

Nhema said the need for the indigenisation and economic empowerment programme was a direct consequence of the colonial experience and seeks to achieve the economic aspirations of the majority of the people for a better life and thereby guarantee their dignity as a people.

“When you look at indigenisation, don’t take it as an event, but take it as a lifestyle. Look at it on the improvements on the standards of living of our people.

Indigenisation is an ongoing process, don’t say it ends here and it begins here. But the whole issue is to improve the standards of living of our people. Indigenisation is not a two-year or five-year plan, but is a lifestyle, we have to improve the standards of living for our people,” Nhema said.

He, however, said the fundamental principle underlying implementation of the indigenisation and economic empowerment legislation was that the law provides that any equity being disposed of to indigenous investors shall be disposed of for value at mutually agreed terms and government was not involved in these discussions regarding commercial aspects of any transaction.

“Therefore, if an investor brings in $100 million, the indigenous parties do not take away $51 million from the foreign investor, but are expected to inject their own capital amounting to 51% of the business.”

He emphasised that government did not impose indigenous partners on foreign investors.

 

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11 comments on “Debate on indigenisation in bad taste: Nhema
  1. RR says:

    The indigenous indigenous are confused by the indigenisation of the indigenous indigenous indigenousness

  2. ntaba says:

    My late father was born in the country and lived there all his life of over 75 years. I was born in the same district and lived there for 45 years. But when Zanu sponsored thieves and thugs came along – they took all our property because we were not deemed to be indigenous – and closed down our business of nearly 100 years standing and helped themselves. Although we were both full citizens of the country and spoke the mother tongue fluently (not English I might add) – we were deemed enemies of the state by Zanu after 75 years and 45 years respectively. The definition of indigenous is all in the mind of the looter? The greater the loot available – the less indigenous the owner seems to look? Even Luke Tembani is not indigenous – they took his business as well.

  3. roving ambassador. says:

    What a load of rubbish. I must go back to school. These Zanu guys are too clever for me. Would an investor waste his /her time trying to unravel this?

  4. Wezaka says:

    I agree Mr Minister indegenisation is very much a lifestyle of the few and privileged, the praise singers, bootlickers and looters. It can’t be any better than you put it. And the rest of us we are just collateral damage.

  5. Lindy Lou says:

    Thank God his lovely wife saw the light and divorced him.Bloody moron Nhema,missed out when backbones were given.Spineless creep and wimp of note.

  6. John Thomas says:

    He has got it right about the bad taste. ZANU is alway in bad taste.

  7. Bambazonke says:

    Back to basics and get logic about this do u or don’t you want FDI . My domestic worker has more brains than these clowns . The land reform a complete failure , indigenition a complete failure all because of Greed for a few puppets ( not British )

  8. Macemike says:

    “When you look at indigenisation, don’t take it as an event, but take it as a lifestyle. Look at it on the improvements on the standards of living of our people.
    Who qualifies as our people. Born here does not qualify as an indigenous zim no?? Go figure

  9. Gondobwe says:

    Nhema is a clown!

  10. Petal says:

    it is supposed to be in the PUBLIC DOMAIN Nhema what are you and the other theiving scum bags hiding? – you are a public servant ooh ooh where are these opposition or Grand Coalition or civil society to tell this idiot off??

  11. Petal says:

    “The debate in the paper left a sour taste in my mouth,” Nhema told delegates “It was not the place to discuss it.”
    Nhema surely you must own something called a toothbrush?!

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