Observe indigenisation law or risk being shut out, investors told

via Observe indigenisation law or risk being shut out, investors told – NewsDay Zimbabwe November 6, 2015

AFFIRMATIVE Action Group (AAG) president Chamu Chiwanza has said all foreigners keen to invest in Zimbabwe must observe the indigenisation law or risk being shut out.

BY OBEY MANAYITI

Chiwanza, who has come under fire for lobbying against the appointment of a Tanzanian national as head of Blue Ribbon Industries under a new joint venture with Bhakressa (Tanzania) Limited, yesterday said investments should not come with preconditions to host nations.

The multi-million dollar project for revival and take-over of Blue Ribbons Foods was now in jeopardy after the immigration department reportedly refused to issue a work permit to the Tanzanian chief executive officer.

“The position of AAG is clear. We have been lobbying for investors to come into this country because it is peaceful and that the people are highly educated and competent. What we don’t want is footloose investments,” he said.

“We will continue lobbying to the government to make sure that most influential positions in any investment are taken by Zimbabweans either white, black or any other. We have had great investments in this country, but we cannot be arm-twisted. We have major international banks and big mining companies which are led by Zimbabweans here and we see no difference with Bhakressa.

“No amount of criticism is going to change our position. I have received threats over this issue, but there is no going back. A lot of highly skilled Zimbabweans have been forced off their positions in other countries and why should we treat others as special?”

Chiwanza defended Indigenisation minister Patrick Zhuwao, saying those who were attacking him over the Empowerment Act were out of order.

Zhuwao has been under fire from a section of Zanu PF supporters who have even went to the extent of threatening to manhandle him for among others pushing for an indigenisation levy.

“Minister Zhuwao is correct on the 10% indigenisation levy. I am very surprised by some who say he is stalling progress and stealing money. These companies have been here for many years and they have not been assisting people,” Chiwanza said.

“AAG is fully behind Zhuwao and we will continue supporting him. We even support him for the $10 million loan. Youths must be supported and given more money for them to work and pay back the seed money.”