Mangoma slams Zanu (PF) for demise of indigenous firms

via Mangoma slams Zanu (PF) for demise of indigenous firms – The Zimbabwean 29 July 2015

Government is responsible for the bankruptcy of most indigenous companies in the country because it has awarded them contracts and failed to pay them.

Renewal Democrats of Zimbabwe (RDZ) President, Elton Mangona, told a meeting of the Mutare Press Club that the way government has been doing business has caused the current economic crisis.

“Indigenisation is few connected people owning the assets while the majority has nothing. What we want are partnerships. Five percent of a bigger project is better than 100 percent of a smaller project,” he said.

“The empowerment that people need are jobs so that they can fully exploit opportunities around them – as opposed to taking things that someone has brought in the name of indigenisation. If you create something in partnership then you are all winners.”

Mangoma said the indigenisation law was never meant to benefit the majority but for Zanu (PF) officials to loot and empower themselves.

“There is a lot of impunity and corruption. The country needs simple economic management. There is no skill in economic management and good corporate governance. There is no clear vision for this country,” said Mangoma. “We need investment but this is not happening because no one trusts the government – because whatever they say is what happens. There is what we call credibility gap because you never know whether they will be able to follow the policies consistently. The indigenisation law must be scrapped and property rights must be respected,” he added.