Chinamasa Pressured To Revise Indigenisation Act 2nd Time
12 December 2017
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By George Tshuma| Finance Minister Patrick Chinamasa has been pressured to once again revise the Indigenisation Act to give mandatory shareholding to locals.

The Affirmative Action Group says instead of scrapping the local ownership section altogether, Chinamasa must consider impising a 10% and 30% for locals.

The AAG’s Matabeleland Chapter president Reginald Shoko said, “while we welcome the proposals to lure foreign direct investment through the scrapping of the threshold of indigenisation, we believe the Finance minister Patrick Chinamasa is taking it too much.

“Indigenisation cannot be allowed to die a natural death. We require the locals to partake in the expansion of our economy and we propose that the threshold be reduced to between 10% and 30% and in some cases, management contracts must be given to locals in order to utilise the human capital we have as a country.”

8 Replies to “Chinamasa Pressured To Revise Indigenisation Act 2nd Time”

  1. Set policies that do not change is how you attract investor confidence. Why should anyone invest in an environment that changes policies arbitrarily. We need stability.

  2. Start your own business. Some people looted funds on the pretext of indigenization .No normal person can invest 100% then gets a return of 49%.The policy was scaring away investors big time. As for Diamond and Platinum there is need for setting up processing plants in order to create employment for the locals

  3. Tangai enyu makambani imi, sei muchida kudya pevamwe. In all other countries foreign investors are allowed to come in and operate alongside locals. Ndokuti ma standards enyu e business akwire. Chinamasa do not revise the stupid law.

  4. indigenisation and land reform were the best policies to happen to Zimbabwe and Africa they can not be ultimately reversed but iron out differences to have a win win scenario.

  5. I AGREE WITH YOU DuDe ,,,HOW CAN WE HAVE A COUNTRY WHOSE ECONOMY IS WHOLLY OWNED BY OUTSIDERS,,,they are not patriots they can just be capitalist business men,,,,if they just think of pulling out they just do it without considering social ,economic employment of our people,,,,,E.G…JUST LOOK AT DSTV ,THEIR USD DEMAND, AND COMPARE WITH KWESE ON DEMANDS,,,IT WILL TELL.

  6. Mr Chinamasa do not revive this silly Law…..the must be repealed with immediate effect…..it put your Country its knees…..please take this simple advise Mr Chinamasa…

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