Articles tagged 'empowerment'

Our land is ours 100pc: Mugabe 8 June 2014 HARARE - Foreigners shall only have access to Zimbabwe’s natural resources on condition that government approves but without this exemption, locals shall hold 100 percent of the country’s mineral wealth, President Robert Mugabe said yesterday. Speaking at the burial of veteran nationalist Nath...
Zim to extend indigenisation deadlines 8 June 2014 HARARE - Zimbabwe says it will extend indigenisation compliance deadlines for “serious investors”. Empowerment minister Francis Nhema said government “is looking for sincere investors”. “If investors want to bring their knowledge for the benefit of the country, then government is flexible t...
Zim moves to clarify indigenisation policy 4 June 2014 HARARE - President Robert Mugabe's Cabinet has ordered Empowerment minister Francis Nhema to craft a paper clarifying government's position on the Indigenisation Act. Last week, Finance minister Patrick Chinamasa told Parliament that the document will put to an end to speculation surrounding t...
Mugabe exposes Kasukuwere 26 May 2014 HARARE - As the economic crisis in Zimbabwe reaches boiling point, President Robert Mugabe’s move to push for amendments to the controversial indigenisation policy has left former minister of Indigenisation, Savior Kasukuwere with egg on his face. Diverging from Kasukuwere’s hard stance on the...
Gono refuses to take credit 26 May 2014 HARARE - Retired Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono yesterday refused to take credit for government’s climb-down on the controversial indigenisation policy. Gono said ultimately it is the nation not individuals who should benefit from the programme. During his last years at...
Mr President, thank you for listening 26 May 2014 HARARE - Life is practical. President Robert Mugabe has now confirmed what we have been saying all along — that he must immediately amend the indigenisation policy to make it friendly to investors not the thuggish way it was being implemented. While a few critics may continue to proclaim ot...
Has Mugabe seen the light? 26 May 2014 HARARE - News that the cash-strapped government will review the indigenisation and empowerment policy with a view to lure investors, shows the seriousness of the economic situation facing the country. Government announced at the weekend that there would be a review of the indigenous and empowe...
Indigenisation a 'losing policy' 6 May 2014 LONDON - President Mugabe and his Zanu PF party have been bad for foreign investment to this country over the past 14 years. To Mugabe and his party, foreign investment did not seem to matter much. Once land was redistributed, Zimbabwe would be self-sufficient. The discovery of one of the w...
Is Zanu PF softening on indigenisation? 27 April 2014 HARARE - Following years of disastrous economic policies and strong rhetoric, Zimbabwe seems to be softening its stance on ownership requirements for foreign-owned businesses operating in the country. Statements by President Robert Mugabe at the Zimbabwe International Trade Fair (ZITF) in Bula...
Empowerment rethink will boost investment 24 April 2014 HARARE - President Robert Mugabe’s softening stance on the controversial indigenisation policy is a welcome development that will likely spur industrial and economic development in the country. In a major climb down from his usually confrontational attitude, Mugabe told the nation during his I...
Mugabe hits at indigenisation confusion 19 April 2014 HARARE - President Robert Mugabe yesterday ruled out a one-size-fits-all indigenisation approach, saying only companies utilising the country’s natural resources will be required to immediately turn over majority stakes to indigenous Zimbabweans. Mugabe told a capacity crowd of 60 000 at the N...
Govt to prosecute empowerment fronts 17 April 2014 HARARE - Government will prosecute Zimbabweans fronting in empowerment deals, Indigenisation minister Francis Nhema said. This comes amid reports that some locals are conspiring with foreigners in the crafting of indigenisation compliance proposals, resulting in the latter remaining major shar...
Nieeb to indigenise banks 9 February 2014 HARARE - The National Indigenisation and Economic Empowerment Board (Nieeb) — a government body created to implement the indigenisation programme — says it is pursuing the indigenisation of foreign-owned banks despite the inadvertent dangers that could befall Zimbabwe’s battered economy. This ...
'Indigenisation dampens economic prospects' 14 January 2014 HARARE - Zimbabwe's indigenisation policy dampens the country’s prospects of attracting the desperately needed foreign direct investment (FDI) and is irreconcilable with employment growth forecasts, says economist John Robertson. This comes as President Robert Mugabe’s administration has maint...
Indigenisation policy re-think important 4 December 2013 HARARE - A fresh thrust on indigenisation by government needs an equally focussed push that ensures the policy accruals trickle down to the majority of the people. The indigenisation policy enacted three years ago compels foreign-owned firms to surrender majority stakes to local people. But...
Distribute youth fund equally 27 November 2013 EDITOR — The country's youths are in dire need of assistance notwithstanding their geographic location, party preferences and ideology. I was very disturbed to learn that only one percent of the Youth Development Fund has been disbursed to youths in Matabeleland North. This contrasts sharpl...
Is this Kurera/Ukondla youth fund real? 1 November 2013 EDITOR — I was wondering who could tell me the real truth about this Kurera/Ukondla youth fund that was meant for the youth. I applied for these loans sometime in February because I really wanted to boost my business as every businessman/woman might feel. I am in the business of typing, pri...
Youths contest govt decision on empowerment fund 29 October 2013 BULAWAYO - Youth empowerment groups in Bulawayo have roundly contested government's decision to proscribe youths from getting loans from the National Youth Fund unless they undergo national youth service training first. Youth groups argue that conditional disbursement of loans will trivialise ...
Stop politicising youth fund 29 October 2013 HARARE - President Robert Mugabe's Zanu PF is looking to create another new civic rite of passage for all young Zimbabweans. Proponents for this national youth service argue that given the new challenges and divisions within and outside our own borders, Zimbabwe must rebuild a sense of common ...
Economic empowerment not negotiable 15 April 2013 HARARE - The indigenous people of Zimbabwe have since independence in 1980 been waiting patiently for that day when the economy would open to them unconditionally and let those with entrepreneurial zeal to enter and participate in the mainstream economy on terms equal to the incumbents. Against t...