JOHANNESBURG - Zanu (PF)'s Indigenisation and Economic Empowerment Bill has been described by South Africa's Democratic Alliance (DA) party as the "second phase of an economic crisis".
In an exclusive interview, DA’s shadow minister of international relations, Kenneth Mubu (MP), said the bill, when passed into law, would ensure that mines and other multi-billion dollar investments belonging to foreign owned companies, would lose their investments. “This appears to be round two of Zimbabwe’s economic crisis. First Robert Mugabe was handing farms over to his cronies, and throwing thousands of farm workers and farmers out of work. Now he is trying to hand over the rest of the economy to Zanu allies. He will definitely use this to try to take over the mines,” said Mubu.
He said there would not be genuine nationalisation in Zimbabwe, except the accumulation of wealth by Mugabe’s cronies. Mubu warned that the African National Congress (ANC) Youth League President Julius Malema should watch very closely the damage that the nationalisation of mines would do to the country’s economy. “He (Malema) keeps on talking about nationalising the mines, now we will see what happens when you take over mines and give them out as patronage to the ruling clique.
“It will wreck what’s left of the economy. And it’s exactly what Malema wants to do. We have always said that Malema and Mugabe are exactly alike -they are both totalitarians who want to control everything, so that they can hand jobs and tenders to friends,” said Mubu.
Post published in: News