Commercial Farmers' Union of Zimbabwe

Commercial Farmers' Union of Zimbabwe

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We will take all foreign owned companies by force – Kasukuwere

We will take all foreign owned companies by force – Kasukuwere

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 

“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 

“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.


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