The Affirmative Action Group, that is made up of Zanu (PF) apologists, has been accused of its intentions to take over some foreign owned companies. Saviour Kasukuwere the Zanu (PF) Youth Development and Empowerment Minister has also threatened to take over the foreign owned companies in the infamous youth empowerment programme.
Economist George Muswere told The Zimbabwean last week that recent surveys conducted to assess the development of the economy through business performance showed that investment continued to be low.
“The blame should be put on the Inclusive Government that has failed to implement the various agreements. This discourages foreigners from investing in the country,” said Muswere.
Economic observers and commentators have blamed President Robert Mugabe for not implementing some of the terms in the political agreement.
“From the survey that was conducted, it showed that there was low investment in the business sector since the formation of the inclusive government because there is no priority for the restoration of investor confidence,” he explained.
He said Mugabe should urgently formulate some investor-friendly policies so that the industry could grow.
“The country desperately requires foreign investment, because without foreign investors it will be very difficult for the economy to grow. We cannot talk of investors like the Chinese that have flooded the country. They have actually plundered our resources and not many Zimbabweans are benefiting from the Chinese operations in this country. Look at Chiadzwa Diamond fields, we have not seen how the country has benefited,” he said.
Officially opening the Fourth Session of the Seventh Parliament last Tuesday, Mugabe assured investors that their businesses in Zimbabwe were safe.
“I wish to assure investors that their investments in the country remain safe and to urge them to maintain compliance with the country’s laws,” Mugabe said.
Ironically, on the same day Kasukuwere cancelled the operating licence of Zimbabwe Platinum Mine Limited. Zimplats failed to meet the 14 day ultimatum issued by the Zanu (PF) Indigenisation and Empowerment Minister.
Meanwhile, Old Mutual was also given a seven-day ultimatum to come up
with a response regarding its failure to implement the indigenisation
and empowerment proposals.
Post published in: News