We will take all foreign owned companies by force – Kasukuwere
http://www.thezimbabwean.co.uk
Written by Tony Saxon
Saturday, 19 March 2011 13:50
RUSAPE – The government will take all companies that fail to comply with the
indigenisation laws by force, Zanu (PF) Minister of Youth, Indigenisation
and Economic Empowerment Saviour Kasukuwere told youths here last week.
Kasukuwere said the ownership structures of strategic and influential
companies operating in Zimbabwe clearly showed that the country was not
economically independent.
“We have taken the land and what can stop us from taking these foreign owned
companies? Politically we are there, but economically no. We cannot brag
that we are independent when the foreigners are calling the shots on the
business side. We say no to that we will take those companies if they don’t
agree on the 51percent shareholding and ownership initiative,” fulminated
Kasukuwere.
“I have realised that the worst shareholding structures are in the mining
companies and financial institutions. The government is going to look into
that matter and those that do not want to abide by that should ship out,” he
added.
“Indigenous business people are failing to get loans from these
foreign-owned banks. Some bank executives first phone their bosses in London
receiving instructions on how to run the banks. We are going to stop that,”
Kasukuwere warned.
“We are definitely clear on that those that do not comply with the
indigenisation law should know that we are going to act. We said it before
that we are not going back on this important issue. This year is a year of
action,” he added.
Kasukuwere said the indigenisation process was underway and transactions
were already taking place.
“Transactions are being concluded in terms of the law such as the
acquisition of Schweppes. We have also seen proposals for BP and Shell,
Caltex, Toyota Distributors and Reg Harris among others. Most of the
companies coming into the country are now very much aware of the need to
adhere to the terms of the indigenisation law,” he added.
Kasukuwere said they were targeting European and American companies because
these countries had influenced the world to impose and maintain so-called
“sanctions” against Zimbabwe.
“All these European and American companies operated in our country during
the UDI era (Unilateral Declaration of Independence) supporting Ian Smith.
How then can they refuse supporting us (Zanu PF) when they supported the
Rhodesian government? We need to expose the British hypocrisy and
duplicitous behaviour once and for all. It has been proven beyond doubt that
it was not enough to terminate the Ian Smith’s regime, but we must go all
the way to terminate the remnants of its architecture that continue to serve
the British interests,” he added.
Prime Minister Morgan Tsvangirai is on record as saying that the
indigenisation and economic empowerment programme to grab companies was a
Zanu (PF) party thing not an inclusive government initiative.