LATEST: Acting President Mnangagwa speaks on indigenisation

Source: LATEST: Acting President Mnangagwa speaks on indigenisation | The Herald April 21, 2016

Lloyd Gumbo Senior Reporter

Government is committed to creating an environment that promotes investment as evidenced by the recent clarification of the Indigenisation and Economic Empowerment Act by President Mugabe.

Acting President Mnangagwa made these remarks when he officially opened the Third Zimbabwe Accountants Conference in Harare today, saying investment would enable the country to meet its triple objectives of poverty reduction, economic growth and shared prosperity.

He also implored accountants to help Government fish out corruption both in the public and private sectors.

“A lot of confusion had arisen regarding the Indigenisation and Economic Empowerment policy with the unfortunate effect of undermining the confidence of the business community, including current and potential investors,” said Acting President Mnangagwa.

“This was owing to conflicting positions regarding the interpretation of the policy. His Excellency, the President and Commander-in-Chief of the Zimbabwe Defence Forces, Cde R.G Mugabe recently clarified Government’s position.

“The policy was introduced to deliberately empower the historically disadvantaged indigenous Zimbabweans and to grant them ownership and control of the country’s means and factors of production. The objective is to enable Zimbabweans to be significant players in the mainstream of the country’s economy.”

The conference is running under the theme: “Partner, collaborate and grow”.

Details to follow…..


  • comment-avatar
    Joe Cool 6 years ago

    I don’t think the man with the long title ‘clarified’ the Indigenisation law – he unilaterally orally amended it.

    And what kind of law is it, that the concerned government ministers are apparently unable to interpret it? Can’t they draft legislation so that it can be understood, even by themselves?

  • comment-avatar
    IAN SMITH 6 years ago

    This is a bunch of criminals, Jail the lot is the only solution.

    It will take 1000 years to get the jungle out of these apes.

  • comment-avatar
    chimusoro 6 years ago

    Very significant remarks show that investment will start pouring in. Soon, there will be an economic boom.

  • comment-avatar
    Jono Austin 6 years ago

    Hang on-wasn’t the west told to go hang? Wasn’t the west told over and over again to keep their filthy imperialistic dollars?
    Now that they have totally screwed the economy over through their rank incompetence and stupidity they want the filthy west to ‘invest’ money so that they can again steal it. They are totally incapable of building the economy on their own and need outside help, But should outside help arrive they talk of exploitation and then ‘indigenise’ the outside investment. One can only shake one’s head.