HARARE - Zanu PF’s key administrative organs — the politburo and central committee — are soon expected to tackle the indigenisation programme in the aftermath of revelations about its dodgy implementation, the Daily News on Sunday can reveal.

 While the party was still determined to use this otherwise-noble initiative as its election trump card in polls due mid-year, the envisaged debate comes after a series of exposés by our sister publication the Daily News and particularly how a few connected elites were benefitting from the process.

 Didymus Mutasa, the Zanu PF secretary for administration, yesterday professed ignorance about how various empowerment deals, including the $1 billion Zimbabwe Platinum Mines (Zimplats) transaction, were structured, although he stressed that any corrupt elements within their ranks would be “grassed” to the police.

 “Corruption is not accepted in Zanu PF. The President has said no to that and we stand by that. People who live in glass houses should not throw stones, but they should not expect us not to throw them if there are corrupt,” he said.

 “If we find any corrupt elements, we will throw them to the police and let the law take its course,” Mutasa added.

 Of concern to party leaders, insiders say, was how a Harare-based consultancy Brainworks Capital Management (Brainworks) was “handed” the mandate to advise the process, which is being championed by the National Indigenisation and Economic Empowerment Board (NIEEB).

 Crucially, the contracts announced so far had the potential to embarrass President Robert Mugabe and discredit the whole process in that certain aspects of the deals were only implementable according to the English law, and there are charges of gross undervaluation of the companies’ mineable resource.

 On the other hand, the process has been marked by little consultation among key government departments such as Obert Mpofu’s Mines ministry and the Reserve Bank of Zimbabwe (RBZ), while it is also unknown whether Johannes Tomana’s office was in the loop about all these transactions.

 In its Thursday and Friday editions, the robust Daily News disclosed that George Manyere’s Brainworks was in line for a $45 million windfall from the Zimplats deal alone and it remains unclear whether the omissions — and commissions — in the current contracts were deliberate or genuine mistakes.

 With the advisory firm also handling Anglo Platinum’s Unki Mine, British American Tobacco, Caledonia Mine (incorporating Blanket), French-owned Lafarge, Winston Chitando’s Mimosa and Pretoria Portland Cement (PPC)’s empowerment deals, the Newlands-based consultancy is expected to earn more.

 As with any public job or business above $300 000, this kind of work must be put to tender, but Manyere — Brainworks’ chief investment officer and managing partner — denies any wrong-doing or misconduct in how he won the multi-million dollar contracts.

 And as the war of attrition over the indigenisation process boils over, virtually all Zanu PF factions have rounded up on Saviour Kasukuwere and Wilson Gwatiringa’s NIEEB for their handling of the key process, which they believe has been marked by “blatant misrepresentations”.

 “As you know, the old man (Mugabe) is an egomaniac and can you imagine him going to the Royal Courts (UK justice hub) to settle disputes that may arise from these empowerment deals?” said a party source yesterday.

 “Can you imagine what it means for him after telling ex-premier Tony Blair to ‘keep your England?’ So, from that standpoint, coupled with the fact that the President has been made to preside over non-existent transactions, it is really a stinker and potential embarrassment,” they added.

 As things stand, the source of consternation — and uneasiness — in Zanu PF also arises from the fact that the 51 percent share due to locals will only be achieved in 10 years-plus under Brainworks’ so-called vendor financing mechanism.

 According to government documents seen by our sister publication, the proposed 10 percent interest and dividend forfeiture to repay the loans provide by indigenised companies was not only unsustainable, but would render the achievement of the process impossible.

 Looking at Zimplats’ profitability margins and performance, for instance, the same papers suggest it would take up to $160 million a year to purchase the majority share, thus the decade-long agreement was impractical, potentially deceptive and prejudicial to Mugabe’s plan.

 Gwatiringa — a trained lawyer and the NIEEB chief executive — has failed to take up offers for comment on this crucial matter.

 And as government, and Zanu PF anxiety increases over the localisation process, several independent parties like Central Bank governor Gideon Gono have tried to intervene by calling for meetings to sort out the mess.

 “To be honest, I think authorities must re-examine these deals. The RBZ governor has… an arsenal of information not so favourable to some of these transaction leaders, but he is at pains as to how the situation can be normalised,” said an insider who attended one of the recent meetings attended by Kasukuwere, NIEEB and his ministry officials.

 “While he (Gono) is viewed as anti-indigenisation in some circles and hence the sustained personal attacks, we appreciated that the deals could actually be lopsided,” he said. It also emerged that some of the Indigenisation ministry officials and NIEEB board members were not in control of processes, as a call  to new chairman Mike Nyambuya revealed.

 In his quest to help government, the RBZ boss even sought to establish a working committee comprising Empowerment ministry officers, Gwatiringa’s executives and central bank officials to fully understand the nature of the agreement, but the efforts came to naught, the Daily News reported last week.

 Amid fears that the indigenisation process may not benefit the country at all, Gono’s intervention came after he had dropped hints about how some government consultants were mishandling the process.

 However, Kasukuwere has harshly shot back at his critics and those fearful of an implosion of the process, and mainly based on the fact that if the deals proceed in the current state, this may jeopardise Mugabe’s election plan and legacy.

 In a highly-charged tweet on Thursday, the Mt Darwin South legislator said “wolves are at the door” in remarks pointedly aimed at Gono and others reportedly offering an alternative method.