Indigenisation beneficiaries to be named

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The government would soon make public the names of beneficiaries of the indigenisation and economic empowerment programme to guard against only a few individuals benefitting from the programme an official has said.

The indigenisation programme was one of the contentious issues debated during a one-day international business conference organised by National Economic Consultative Forum in collaboration with the Zimbabwe International Trade Fair in Bulawayo on Wednesday.

Ministry of Youth Development, Indigenisation and Economic Empowerment’s permanent secretary Prince Mupazviriho yesterday told delegates attending the business conference that the process had already been set in motion.

“We are in the process of coming up with a database of who has gotten what so that we do not have the same people getting shareholding elswhere,” said Mupazviriho.

“The list will be available at the one-stop Zimbabwe Investment Authority so that investors coming into the country can see whom they could partner.”

“We are looking at ways at how we can make the indigenisation process get the integrity it deserves.

Affirmative Action Group treasurer Elfas Mashava said at least 20 000 people had lost jobs in Bulawayo due to company closures linked to their disgruntlement with the indigenisation programme.

He alleged that companies were deliberately stripping assets as a way of sabotaging the process so that whenever new people took over there would barely be anything to work with.

However, Mupazviriho said his ministry was currently conducting investigations into allegations of asset stripping.

“We have received such reports and something is being done to try and establish how far true that is but for now there is nothing to substantiate those allegations,” said Mupazviriho.

Last month the Chamber of Mines of Zimbabwe appealed to Vice-President Joice Mujuru for intervention over the implementation of the Indigenisation and Economic Empowerment Act warning the mining industry could see a decline in production and capital flight.

Mining companies have been given 45 days to submit an indigenisation plan and six months within which they should have complied with the regulations.