MDC savages Mugabe over Indigenisation

HARARE - Morgan Tsvangirai’s MDC says President Robert Mugabe should do the right thing and overhaul the controversial indigenisation laws so as to attract the much needed foreign direct investment and not offer piecemeal but desperate concessions.

In a statement yesterday, MDC spokesperson Obert Gutu said the indigenisation policy needs a thorough and complete overhaul and not piecemeal concessions as that would only add to the confusion.

On Tuesday, Mugabe stepped in to clarify the country’s position on indigenisation following a public fallout between his ministers Patrick Chinamasa (Finance) and Patrick Zhuwao (Indigenisation) on the implementation of the law that forces foreign-owned companies to cede 51 percent of their investments to locals.

“Instead of clarifying the overwhelming confusion that has been brought about by the populist and often, misguided remarks by Patrick Zhuwao, Mugabe’s statement actually adds to the confusion and policy inconsistencies.

“Mugabe’s statement is actually very dodgy and sly. It shouldn’t be trusted and believed at all. He is simply trying to hoodwink and mislead the international community; particularly the Bretton Woods institutions because right now...Chinamasa and the RBZ governor John Mangudya, are in Washington DC for the IMF and World Bank annual spring meetings.

Experts say the controversial law has thus far repealed investors and the public fights between Mugabe’s ministers have also brought a cloud of uncertainty to those who may have wanted to bring their money to the country.

“Both domestic and foreign investors need to see and experience clarity and precision in our investment policies. Mugabe’s statement actually adds to the confusion and policy inconsistencies.

“The long and short of it is that a leopard never changes its spots. Both President Mugabe and his nephew, Patrick Zhuwao, are die-hard populists. The good thing is that both the local and international business communities will not be hoodwinked by Mugabe’s desperate attempt to put lipstick on a frog,” he added.

Diverting from Zhuwao’s hard-liner stance Mugabe sought to allay fears of those in the banking sector as he announced that the critical financial sector will be administered under the auspices of the Banking Act, which is regulated by the central bank and the insurance sector under the Provident and Insurance Act.

Comments (6)

Mr Gutu when are we going to see the party do a Malema thing in parliament.Are yu scared to impeach President?This zanu crony viola brags that since 2000 yu have not shown any stomach to do that.Zanu and Mugabe are at their weekest in parliament,why not tackle him in parliament?At least try n fail,just for once.It seams yu prefer street uprising which has never hapened since the stay aways.Please sho some thing.The bragging of zanoids like viola gwena makes my stomach turn bt at the end she is saying smething plz.

kays - 14 April 2016

dream on yu must listern n obey,go in the streets 1st n get the sjamboks.parliament needs brains.

russ - 14 April 2016

agree @kays, what are our mps doing in parly? its only nelson who tries to confront the buffons but they think he is doing comics. other mps must support nelson and cause a standstill until zanu give us answers. parly is the right platform to start the motion. we also need televised parly debates to hear & see what the people we voted are doing. the parly miss roy bennet for sho!

SaManyika Chaiye - 14 April 2016

@KAYS.YU very spot on.why is mdc stuk in those old methods that dnt bring results.They shuld sit dwn n plot other avenues.Like what kays is saying.why r they reluctant on that.we need to see action in parliament,summon mugabe to parly,do anything.impeach him on old age.if yu cant then consult Malema how its done.I for one im nt coming out in the streets till yu guys do that.

jabu - 14 April 2016

there must be a law that does not require rhobhati to be summoned to parly. the guy can come as and when he so wish I think. but still mdc mp must hackle those present to answer! we are tired of being heckled by zanu pple everywhere we go. there is filthy rottenness in zim to warrant noise making in parly; that the only language zanu understand. this indeginous crap has driven out all investors and we are left with bogus businessmen & cellfon famaz who doen't employ anyone and doesn't pay the few they enslave.

SaManyika Chaiye - 14 April 2016

We can have demo tday then what ?After demo.Wait for mugabe to resign?wht does mdc have as way forward.taratidzira yes then what ,after that?.another demo again?Oh no.Pindai naye muparliament toona ,then another demo.yes.not demo after demo

tobs. - 14 April 2016

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