Chinamasa needs support

HARARE - Finance minister Patrick Chinamasa is pressed between a rock and a hard place as he tries to revive the economy at a time his Zanu PF party is engaged in deadly and bloodletting factional fights to succeed President Robert Mugabe.

Over the past few months, the lawyer-cum-politician has been the most active of our ministers mending relations with multilateral lenders such as the International Monetary Fund, the World Bank and the African Development Bank.

In addition to renegotiating the country’s external debt — an albatross around Zimbabwe’s economy neck — Chinamasa is one of the few people in Zanu PF who are truly worried about the deteriorating economic conditions and has worked himself to implement robust economic reforms.

Since his appointment in 2013, Chinamasa has worked hard to meet with industry, investors and international economic advisors, and he has seen it fit to propose amendments to the controversial indigenisation policy — not for his own selfish end but to grow the national cake through increased foreign direct investment.

The indigenisation law, which was enacted in 2008 and forces foreign firms to cede at least 51 percent shareholding to locals, has been blamed for lack of investor appetite in Zimbabwe despite the country holding vast natural and human resources.

Cognisant of the need to boost government’s fast-depleting coffers, the Finance minister on Christmas Eve announced that all foreign companies that were yet to submit their indigenisation compliance proposals must do so by March 2016.

He further added that all foreign companies are required to comply with the law within five years — except in the capital-intensive energy sector, where companies can only comply after 20 years.

These amendment guidelines do not only make business sense but are crucial for the revival of the country’s moribund economy that is on a precipice of a devastating depression, last seen in the hyperinflationary period.

Hardly a day had passed when on Christmas Day, Indigenisation minister Patrick Zhuwao came out guns blazing against his Zanu PF and government colleague. In his wisdom, or clearly lack of it, the youthful minister said no reforms should be implemented on the controversial policy.

To add insult to injury, Zhuwao said foreign companies that are yet to comply with the empowerment regulations risk being kicked out of the country.

Such reckless statements from Cabinet ministers are not only dangerous to the economy but are one of the many reasons why we are in this mess that we find ourselves in — 35 years after independence.

The country’s quest for economic and political freedom has been hijacked by zealots who only think of lining up their pockets at the expense of the general populace.

Zimbabwe needs more people of Chinamasa’s calibre and less of Zhuwao if the country is to succeed in turning around its economic fortunes.

    Comments (11)

    Its true Chinamasa needs support. Most important Chinamasa needs Grace and Mugabe's support. He will not get this support becoz Mugabe does not agree with Chinamasa's re-engagement and reform process.Besides Mugabe has aligned himself with his wife and G40. This matter is no longer about indigenisation but succession. Zhuwao is not daydreaming he is reading his uncle's mind. Chinamasa is flogging a dead horse and if he has pride left he should resign now and let Mugabe implement his succession plan.Chinamasa is having headaches and losing sleep trying to find money to pay wages,pensions and bonuses which is not there. If Chinamasa does not resign, him and his colleagues in Team Lizard will be sacked when Bob comes back from leave. Whatever Mugabe and his wife want in ZPF will always prevail.

    Mambo - 27 December 2015

    Its true Chinamasa needs support. Most important Chinamasa needs Grace and Mugabe's support. He will not get this support becoz Mugabe does not agree with Chinamasa's re-engagement and reform process.Besides Mugabe has aligned himself with his wife and G40. This matter is no longer about indigenisation but succession. Zhuwao is not daydreaming he is reading his uncle's mind. Chinamasa is flogging a dead horse and if he has pride left he should resign now and let Mugabe implement his succession plan.Chinamasa is having headaches and losing sleep trying to find money to pay wages,pensions and bonuses which is not there. If Chinamasa does not resign, him and his colleagues in Team Lizard will be sacked when Bob comes back from leave. Whatever Mugabe and his wife want in ZPF will always prevail.

    Mambo - 27 December 2015

    Yes chinamasa is very hardworking.it comes wth honesty n sincerity n education.zhuwawo nt that educated.we zimbos need to suport chinamasa above all.he needs us as zimbos for suport.when holiday is over retainees must see that all zimbos are behind country resuscitation ,nt succession.we need our country to be out of the woods.noone must be allowed to derail this momendum coz of selfish reasons.its our lives.ngwena n chinamasa are doing excellent job while others are politicking.

    gwena - 28 December 2015

    why supporting Chinamasa? let the system fail ,fall and crumble to desolation , then we start anew as a nation with a fresh leader obeying the constitution and who is a servant of the people like Magufuli

    Big Meech Larry Hoover - 29 December 2015

    Magufuli is a trained cadre of Chama chamapinduzi.If people can understand 1 thing,liberation movements in SADC are there for good.They will never be removed from power,Frelimo,Chamaz,ANC,Swapo,Zanupf, .These 5 wr born out of armed struggles.Its diferent from Unip of zambia ,Botswana,n others.these liberation movements change themselves,like invigorating inside for the beter.so for any to suggest zanu will die wth anyone ,daydreaming.Zvobgo saw it n advised all gomera urimo,otherwise yu finnished.These parties turned themselves into institutions of the state,hence all power is centralized in them then gorvenment.so its wise to take this into consideration.And they watchout for each other,ANC will always assist Zanu to stay in power regardles.Zanu assisted Frelimo in the 80s.wakeup zimbos

    gwena - 29 December 2015

    @gwena, you lie to yourself to such an extent that you end up believing in your own lies and rhetoric. You cant do a technical analysis of what is happening in ZANU Pf and cant even relate it to 2008 when its own army started looting and demostrating. Wake up and smell coffee, the party is being destroyed by its leader and his Marie Antoinette. Imagine if he was to die today how many parties would emerge in that party , the leader has not elected a successor who can manage the situation. Think positively without emotions,Zanu is on a self destruction mode.

    Big Meech Larry Hoover - 29 December 2015

    even in Zanu pf a leader like Magufuli can be raised or can rise but the problem is that its supporters have been brainwashed to such an extend that they believe only Mugabe is capable of leading the nation. This problem which is a Pavlov effect was mastered by Mugabe and some of his cronies like Jonso who thru studies know that if you subject people to a lie and support it throughout the people will end believing in the lie. Thats what they do with public media, they continuously lie to people with their propaganda.

    Big Meech Larry Hoover - 29 December 2015

    I can see that we are getting so disillusioned by events happening in this country to an extent that the victims are running to the perpetrator for help! Its baffling to hear one say chinamasa need support; from who?! I wonder! he already have the support of bob and the entire zanu bandwagon that is why he is still in the job. otherwise they would have given him the infamous 'vote of no confidence' long time ago. everyone in that party must go because this situation happened in front of them and they failed to arrest it wile it was yet to be fully blown.

    SaManyika Chaiye - 29 December 2015

    Big leech ,try to deal wth facts on the ground.dont join unconnected facts to come wth loose point.my question is why these lib parties dont die?moza went thru worse ,to this day its taking quite a task to develop it.bt frelimo still in charge winning bigger votes than bfo.samora left n beter leaders emerged from wthin frelimo,to ths day.same as tanzania.beter leaders will emerge frm zmanupf.it wont die wth mugabe.theris already an attempt to replace him in the event of his depature,which is good.

    gwena - 30 December 2015

    The 2 parties that came into power in zambia n malawi,non liberation movements,are a disgrace to their citizens who expected a boom of life.idiologies r lost when a country changes parties too often.america knows 2 parties only,as britain,german.those 2 african countries have now seen the worst type of chameleon leaderships ,becoz of this.

    gwena - 30 December 2015

    Finaly,bigleech,for yu to stand idle while yo house is being destroyd hoping for yo father to die 1st,for yu to help may not be that in clever. We choose to do the correct thing.

    gwena - 30 December 2015

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