Politburo meets tomorrow | The Herald

via Politburo meets tomorrow | The Herald June 3, 2014 by Zvamaida Murwira

Zanu-PF’s Politburo meets tomorrow to deliberate on several issues, including modalities of holding the National People’s Congress in December and proposed amendments to the indigenisation law.Zanu-PF secretary for administration Cde Dydmus Mutasa yesterday said he could only comment on these issues after the meeting which is scheduled to begin at 9:30am.

“It will be after that meeting when I can speak substantively on the Congress,” he said.

Zanu-PF is this year holding internal elections starting with the Youth and Women’s leagues, followed by the main wing.

Jostling for positions, particularly in the Youth League, has already started and the Politburo is expected to give guidelines on how the electoral college would be constituted and how candidates should conduct themselves.

There is much talk of amending the Indigenisation and Economic Empowerment Act; and Youth Development, Indigenisation and Economic Empowerment Minister Francis Nhema, is expected to brief the Politburo.

Finance Minister Patrick Chinamasa, told the National Assembly last week, that Cabinet had directed Minister Nhema to align the law with policy pronouncements made by President Mugabe at Zimbabwe’s 34th Independence celebrations and the Zimbabwe International Trade Fair in Bulawayo.

He said Cabinet directed the urgent realignment of investment and empowerment laws so that they reflect a 100 percent ownership of natural resources by Zimbabweans, with investors entering into profit sharing agreements.

This is line with President Mugabe’s pronouncements that more Zimbabweans should participate in the economy.

Minister Chinamasa said the thrust of the indigenisation policy as pronounced by the President would ensure more economic participation by indigenous Zimbabweans and secure a win-win situation with investors.

The proposed review of the indigenisation policy moves from requiring at least 51 percent equity in the hands of indigenous Zimbabweans to ensuring they retain 100 percent ownership of their natural resources and share only proceeds from investments with foreigners who will also be allowed to recoup their capital investment along with operational costs..

As currently constituted, the Indigenisation and Empowerment Act requires all foreign-owned businesses worth US$500 000 or more to cede at least 51 percent shareholding to indigenous Zimbabweans.

 

COMMENTS

WORDPRESS: 13
  • comment-avatar
    Roving Ambassador 8 years ago

    For ZANU to appease its support base, they have to promise more loot otherwise the allegiance will wane .The party has to prostitute itself. How unfortunate.
    They are trying to convince the investors that they are now getting 100% ownership and at the same time convince the Zanoids that they are getting 100% ,up from 51%.
    They have to bring all the sangomas in the land to the meetings.
    ZANU must go .

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    Roving Ambassador 8 years ago

    A we to celebrate new administration of our site?

  • comment-avatar
    zanupf fear me 8 years ago

    Read this as panic stations in zanupf !!!!!!!!?!! Clueless buffoons n criminals

  • comment-avatar
    mandevu 8 years ago

    Jostle as much as you like for positions in all of your meaningless structures. Those in positions will fall harder

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    Kabunga 8 years ago

    Wonder what Companies that are left are going to be hounded for donations to fund the National People’s Congress.

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    Heighho 8 years ago

    Who will be so foolish as to enter into any agreement with a govt which routinely reneges on its promises to pay its debts, uphold the law, protect its citizens? It is about TRUST – the effects of 34 years of cynical pillaging are now making themselves felt.

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    Mdidi 8 years ago

    Izinto zabo pasi…

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    Operation Vote Well 8 years ago

    If the indigenisation act has been reviewed and reformed; what the reason for the politiburo to meet?

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    JOHNSON 8 years ago

    The climbdown must be realistic. Otherwise if they take half measures, it would be time and resources wasted. At the moment there is 100% local farm ownership, so how does the NEW 100% local ownership translate into equity capital. This is all confusing and the attempt to show LOVE for citizens is failing and showing as critical betrayal of promises made out of desperation. The new model has never been experimented with anywhere. You cannot totally nationalize and at the same time proclaim total liberalization. The NRZ is wholly owned and so are the other parastatals. What happened under LOCAL control. This ‘local ownership’ is a propaganda tool designed to fool the public because there was never any “localization” but constant flip flopping because lies designed for electioneering were to be transformed into ‘realistic policies’. Absurd, ABSURD. Nevertheless the chickens must sooner or later come to ROOST. Lets wait & see this CIRCUS unfold.

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    Baba Jukwa will be updating us. He will be the first one to be in that meeting

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    munzwa 8 years ago

    and also to let you know the Outer Gutu chapter of the WI is meeting tomorrow 10.00am..!!!

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    Oh. So the politburo is the true government!

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    Let them debate the retirement of President Mugabe (aged 90) with immediate effect.