Commercial Farmers' Union of Zimbabwe

Commercial Farmers' Union of Zimbabwe

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People want jobs, not indigenisation – Khupe

People want jobs, not indeginisation: Khupe

03/10/2010 00:00:00
by Staff Reporter

DEPUTY Prime Minister Thokozani Khupe has said Zimbabweans are more
interested in jobs rather than ownership of companies and inisted the
government’s indeginisation programme was a death knell for the country’s
largely comatose productive sectors.

Khupe, who is the deputy leader of the MDC-T told the party’s supporters in
the United States that the government’s controversial indigenisation laws
would impede economic recovery by scaring away much-needed foreign

“Our people are not crying for ownership of industry. They need jobs to be
able to feed their families,” she said.

Under the country’s empowerment laws, foreign-owned companies are required
to ensure at least 51 percent of their shareholding is controlled by locals.

But Khupe said the legislation was a threat to economic recovery.

“This is not the time to implement the indigenisation program in the form
and shape defined by ZANU PF.

With 90 percent of Zimbabweans unemployed and whole industries closing down,
it is very futile for the ZANU PF leadership to be calling for wholesale
indigenisation of the few remaining industries,” she said.

The coaltion government is split along party lines over the legislation.

Khupe said Zimbabweans did not have the resources to acquire the 51 percent
shareholding in the targeted companies adding that the programme was not
aimed at empowring ordinary people.

“Who has the money to buy the 51 percent of the shares they want off loaded?
Who will buy those shares?

“Is it the people in my constituency of Makokoba, or Dotito or Muzarabani?
No. (It) will be the same connected individuals that continue to feed on the
economic and corruption trough,” Khupe said.

Zimbabwe’s coalition government appears split along party lines over the
indeginisation programme which has also triggered gitters among foreign

A review targeted at coming up with sector-specific thresholds is underway
and companies, particularly in the mining sector are also hoping that
consideration will be given to social spend in communities as well as
infrastructure development.


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