Commercial Farmers' Union of Zimbabwe

Commercial Farmers' Union of Zimbabwe

***The views expressed in the articles published on this website DO NOT necessarily express the views of the Commercial Farmers' Union.***

Zimbabwe Black Empowerment Leader Tries to Take Over White-Owned Firm in Harare

Zimbabwe Black Empowerment Leader Tries to Take Over White-Owned Firm in Harare

http://www1.voanews.com

Though ZANU-PF provincial official Mliswa said he has acquired shares in the firm, some worried that indigenization is getting ahead of itself

Gibbs Dube | Washington 12 April 2010

Though Zimbabwean indigenization regulations were only published in March and according to Prime Minister Morgan Tsvangirai will be revised, sources said Themba Mliswa, vice president of the country’s largest black
empowerment organization, has been trying to take over a white-owned automobile accessories company in Harare.

News reports and industry sources said the Affirmative Action Group officer claims to hold a 50 percent stake in Benbar, having purportedly bought the shares through a third party.

Sources said Mliswa, also ZANU-PF secretary for land Mashonaland West Province, recently harassed the company’s directors, leading to his arrest.

Reached by VOA, Benbar directors, Mliswa and police all declined to comment. Affirmative Action Group Secretary General Tafadzwa Musarara told VOA Studio 7 reporter Gibbs Dube that his organization has nothing to do with the wrangle.

Affirmative Action Group members “have not invaded any companies in Harare or elsewhere in Zimbabwe as we are bound by the laws of the country not to just take over any firm of our choice,” Musarara said.

He said his organization has been informed that Mliswa is not referring to the indigenization law in his efforts to take control of Benbar.

Political commentator Roderick Fayayo said the 2007 Indigenization and Economic Empowerment Act has too many loopholes that could be used by unscrupulous individuals to grab white-owned companies.

“There is need to revise this piece of legislation as it is likely to be abused by militant ZANU-PF zealots in taking over white-owned firms,” Fayayo said.

Facebook
Twitter
LinkedIn
WhatsApp

Govt amends Indigenisation Act

Govt amends Indigenisation Act | The Chronicle   Minister Patrick Chinamasa Oliver Kazunga, Senior Business ReporterGOVERNMENT has amended the Indigenisation and Economic Empowerment Act in line

Read More »

Govt, BAT in agric empowerment drive

Govt, BAT in agric empowerment drive February 9, 2017 Features, Opinion & Analysis Sydney Kawadza Senior Features WriterIn 1995, Laxer Matemayi completed her Ordinary Level education

Read More »

Joint Venture Act gazetted

Joint Venture Act gazetted June 1, 2016 Business Martin Kadzere : Senior Business Reporter THE Joint Venture Act, expected to promote major investment across economic sectors, came

Read More »

New Posts:

From the archives

Posts from our archive you may find interesting