via Majority denounces indiginisation in favour of Foreign investment -Report – The Zimbabwean 18 march 2015 by Tavada Mafa
Three quarters of the country’s population has said foreign direct investment was the only way the country could address the sky rocketing unemployment rate as opposed to the indigenization of the economy, a survey which was commissioned by Afrometer and conducted by Mass Public Opinion Institute shows.
2,400 adults from all the country’s 10 provinces were randomly selected and took part in the survey which was conducted between 16 and 29 November 2014 and released on today (Wednesday.)
“An overwhelming majority (72%) subscribe to the sentiment that foreign direct investment was the way to go in terms of rejuvenating the country’s economy,” reads the report.
“The survey also shows that support for foreign direct investment is high among both male and female respondents as there was only a three percentage point difference between the males (73%) and the females (70%) who prefer foreign investment to indigenization”.
These results come at a time the country’s economy is bleeding with an over 80% of unemployment rate which continues to rise owing to company closures.
The shutting down of companies is caused by unfriendly investment policies in the form of the controversial black empowerment laws which were enacted in 2007.
The laws force foreigners to cede 51% share holding to locals in foreign owned business ventures. This is being used by senior ZANU (PF) officials to threaten the few remaining white businessmen and investors.
ZANU (PF) officials do not even speak with one voice over the indigenization laws.