via We will soon dump Zhuwao, Chinamasa – NewZimbabwe 05/01/2016
FINANCE minister Chinamsa said if the newly amended empowerment framework is fully implemented Zimbabwe will not need a ministry of indigenisation.
The empowerment ministry is currently headed by President Robert Mugabe’s nephew Patrick Zhuwao.
The two Ministers were at each other’s throat during the festive season when Chinamasa announced new indigenisation guidelines which Zhuwao dismissed as “treacherous”.
Speaking to journalists Monday in Harare at a joint press conference Chinamasa said soon the ministry of indigenisation will be a thing of the past.
“If we implement the policy successfully as we are going to do over time there may be no need for a Ministry of Indeginisation,” he said.
“We should work towards, involving, having local participation almost up to 80% and 90% like other economies.
“If you talk about China, they will probably be talking about 90% of their economies, indigenous. If you talk about Germany is the same thing.”
Chinamasa added that as long as the country is still at 10% indigenisation, Zimbabweans still have no economy to talk about.
“That is very important to emphasize,” he said.
The empowerment programme is blamed for Zimbabwe’s poor record in attracting foreign direct investment compared to its neighbours.
Efforts by Chinamasa to address investor concerns regarding the policy had met stiff resistance from Zhuwao and other cabinet colleagues.
War veterans minister Chris Mutsvangwa even accused the treasury chief of working with the IMF to topple President Mugabe.