via Zanu PF MP blasts indigenisation policy – DailyNews Live 27 July 2014 by Chengetai Zvauya
HARARE – William Mutomba, Zanu PF legislator for Buhera North, has castigated government’s indigenisation policy saying it needs to be revised because it is retarding efforts to revive the economy.
Mutomba told the National Assembly on Thursday while debating the motion to revive the economy, that the policy was spooking investors.
Mutomba called for the wholesale revision of empowerment thresholds in the indigenisation policy.
“There is nothing wrong with the indigenisation law but it is the way we are promoting it which needs to be changed,” he said.
“We need to go back to the drawing board to see how best we can do it without disruption to our economy.
“Our policies are anti-investment. As far as foreign direct investment is concerned, we should look at our policies. We are running around looking for investors.
“We have our indigenisation policy of 51 percent and 49 percent. We are the ones who came up with that policy, never mind Zanu PF or MDC, but it is Zimbabweans that came up with the policy.
“The investor is bringing his or her own cash or funding, it is his or her capital that we are interested in. We want $5 million and we now say we want to control 51 percent of the $5 million?
“They are bringing in technology which we do not have and they are also bringing their expertise which we do not have, what else do we require?” he asked to wild applause from other lawmakers.
Mutomba said Indians and Chinese firms were pushing locals out of business.
“We have Indians and Chinese in the formal sectors, they are coming here to milk us,” Mutomba said.
“A lot of people including myself have been pushed out of business. I went to the ‘Chinese city’ near the National Sports Stadium and I entered two shops which are selling Chinese products and a few Zimbabweans products.
“I also wonder whether these Chinese have bank accounts here, maybe they are shipping the money they are making in this country to their country. This is criminal sabotage to the nation,” he said.
China has become one of the major investors in the country after Zimbabwe fell out with most Western countries.
He urged politicians to stop laying blame for the economic hardships on sanctions.
“We are experiencing sanctions in the country, the same way Ian Smith faced them too but he managed to bust them,” Mutomba said.
“We speak so much about sanctions without doing anything about it. Let us work together to end the sanctions.
“We need to first agree without being partisan whether MDC or Zanu PF without name calling. We should be thinking, we should have been able to bust the sanctions as was the case with Smith. We cannot just think of sanctions without thinking ideas to bust them.”
COMMENTS
Now that there is some sense if anyone will listen. A nice little simple solution with nice simple words of advice. The sad thing is that they will listen to the chinotimbas and the Mliswas of Zimbabwe.
“We are experiencing sanctions in the country, the same way Ian Smith faced them too but he managed to bust them,” Mutomba said.
That might be the only point I don’t agree with. The Smith Government had the money but because of Sanctions the world wouldn’t trade with them.The Mugabe Government has no money in the coffers and they want hand outs which the world won’t give them.
“I also wonder whether these Chinese have bank accounts here, maybe they are shipping the money they are making in this country to their country. This is criminal sabotage to the nation,” he said.
Of course they are. Who would bank in Zimbabwe at this time and point when Banks are collapsing and there is no clear cut policy on what’s in store for banks. The only thing that I fear is that some in Zanu pf are beyond redemption. Their use by date has expired and if this party does not reinvent itself there is more chaos to come.
“The Smith Government had the money but because of Sanctions the world wouldn’t trade with them.The Mugabe Government has no money in the coffers and they want hand outs which the world won’t give them.” Smith left them with a health bank a/c and a running industry, if it was carried forward at that rate or improved above Smith level don’t you think we would be on a better position.
These are the type of legislators we want and he is also within the ruling party. I hope they we will listen to him. Well done Comrade.
Under “Sanctions” the economy grew like never before and the nation became largely self-sufficient. Those who are older will remember that just about everything we ate or wore was “Made in Rhodesia”
Now the Zanu people cry that travel restrictions have killed the economy. Who are they trying to fool? They themselves have killed the economy, deliberately I think. It is hard to believe that the cazy policies of destruction like the land grab and indigenisation were “by accident”.
You can have 51% of nothing; in which case the economy tanks out. Or you can decide to have 0% shares with a contribution to the economy in employment, tax [from employees and the employer].
The choice is yours. It is like having 100% of Air Zimbabwe or the NRZ, which is worthless, or 25% of a successful airline or railway operator; both worth something.
suffer you mad knobs, sup with the devil…..stop your outrageous racist laws and the real Zimbabweans will come home to save the country and jail the zanu’s
who said there was no one capable of replacing the old
man, with words like these we jus need a little more people who can put this to practice. its not about zanu pf or mdc, its about Zimbabwe period. thank you minister.
I hope we forget our differences and start being proud of our nation and work towards it being a better nation in country we will all be proud of. ‘its all about Zimbabwe’ thank you again Mr Mutomba,
it took them this long to see that there are shooting themselves in the foot. I think our black color has something to do with our stupidty..
Yes there is everything wrong with your Zanu indiginous policy. And the ‘sunctions’ are targeted. Bust them!!!? My foot. Otherwise the zanu man is begining to talk sence. 51/49? What fool would ever inverst in a country like that? So okay I bring 100 million and over night I own 49 millon? Not 101 millon? Madness. Zanu are plain mad.
Good reading for all Zimbabweans who need a mind set change is ‘Capitalist Nigger’ by the Nigerian author Chika Onyeami who highlights the way the ZPF types defend their actions. Fortunately the author also offers options on how this can be changed. I highly recommend young man & women who want a new Zimbabwe, to read this book.