Wednesday, October 26, 2011

Asians embrace indigenisation policy — Kasukuwere


From Tendai Mugabe in JAKARTA, Indonesia
ASIAN investors keen to do business in Zimbabwe are embracing the indigenisation policy launched by Government, Indigenisation, Youth and Empowerment Minister Saviour Kasukuwere has said.
Minister Kasukuwere, who is in Indonesia attending the 26th Trade Expo Indonesia, said in an interview that business people he met so far expressed interest to invest in Zimbabwe. He said they told him that partnership with local business people was not new to them.

"We are mounting a campaign to meet key business people in Indonesia and South Korea and they are satisfied with what we are talking about," said Minister Kasukuwere.
"We are meeting those business people who are interested in expanding their businesses to Zimbabwe and they are saying the issue of indigenisation and local participation in mainstream economy is not new to them. If anything, they are saying local participation really guarantees them security of their investments."

Minister Kasukuwere said there was need to channel more resources towards development of the Small and Medium Enterprises sector. He said his experience from the Indonesian visit showed that SMEs had the capacity to drive the economy if fully funded.
"I have discovered that SMEs are predominantly the engine of economic growth and this is why the Indonesian Government is emphasising the importance of funding this sector. The more we support SMEs, the more we create wealth and sustainable employment for our people."

He commended the Zimbabwean business delegation participating at the 26th edition of the Trade Expo Indonesia also known as the Jakarta International Expo. He said they should use what they learnt to expand the local economy.

The minister said Zimbabwe and the entire African continent had the potential to excel if resources were utilised well. He said Zimbabwe was fortunate to have vast resources, coupled with educated people with skills in various economic fields.

From Indonesia, Minister Kasukuwere would on Sunday lead a 25-member Zimbabwean business delegation to South Korea to forge linkages with Koreans and explain the indigenisation policy.

Tam Consultancy director, Engineer Tawona Mtungwazi, who is also participating at the Jakarata International Expo said they made strides in striking business deals.
"We have seen areas where they are competitive and we are now making negotiations in areas we can partner with them," he said.

"There is great potential here and so far I have already identified some business people who have expressed interest to come to Zimbabwe early next month to partner us in the development of e-Government and software."
Other areas of partnerships with Indonesians include textile manufacturing and engineering consultancy.

Sunday, October 16, 2011

R.I.P Tongai Moyo Dhewa

Our superstar musician Dhewa is no more.This is a sad day and a big loss to the entire nation of Zimbabwe.We have lost one of the finest musician this country produced.Deeply humble and original, Dhewa was a role model to many .RIP Murozvi.

Saturday, October 15, 2011

Minister of Indigenisation, Youth Development and Empowerment Midlands State University Public lecture on Poverty Alleviation Through Indeginisation

Minister of Indigenisation, Youth Development and Empowerment warned the police to abstain from arresting panners saying there was nothing illegal about the panning.
Speaking at the Midlands State University during a public lecture on Poverty Alleviation Through Indeginisation, Minister Savior Kasukuwere urged the police to stop harassing and arresting illegal panners in the country despite the fact that environmentalists’ concerns.

Kasukuwere said it was a shame that the mining sector which is foreign owned continued to loot the country’s resources while being escorted by the police while local panners who he said were trying to eke an honest living were being harassed by the same police.

“It’s high time we woke up as Zimbabweans. Mining firms continue to extract and loot our minerals while we watch, folding our hands. When the minerals are mined using local labour, we then authenticate their looting and stealing by allowing our police to escort them to the borders. The same police officers would then crack down on our indigenous panners as they try to eke a living from their own minerals,” Kasukuwere said.

“When the panners are raided, they are sent to the courts where they are given long sentences as punishment. We should put an end to that and make sure that we help each and every Zimbabwean enjoy his or her mineral resources by legalising their operations,” he added.

The Illegal panners leave open pits after extracting the minerals and in the Midlands Province, the Environmental Management Authority has blamed them for destroying the environment. They are even digging under the major highway linking Zimbabwe to South Africa in search of gold.

Kasukuwere vented out his anger also on foreign owned mines warning that he was coming out for them for failing to give 10percent of their shares to local communities while applauding Zimplats that has already done so. He said stakeholders should now move from talking to action

“We have talked a lot on this subject about indigenisation and economic empowerment and how it should be implemented. It’s now time to make sure that this programme has been implemented so that the majority of Zimbabweans who are owners of the huge deposits of minerals in this country directly benefit. We will crack down on all mines to give away the 10percent. We will move on to Mimosa, to Unki, Murowa and all the mines,” he said.

The Minister also said Government has set aside a national revolving fund, which will require companies to contribute part of their profits towards future use.

“In as much as we are proud to posses such huge mineral deposits in our country there will come a time when these mineral deposits along the Great Dyke will be exhausted. As Government we have set asidea national revolving fund whereby mining companies are compelled to contribute funds towards the fund for future use,” Kasukuwere explained.

Friday, October 14, 2011

Zimplats to build US$1bln concentrator

by: Reuters

Deal sealed ... Savior Kasukuwere and Dave Brown

PLATINUM miner Zimplats on Thursday announced a $1-billion expansion plan for its mines in Zimbabwe, at a ceremony to mark its first step toward complying with a new local ownership law.
"The company has to date invested $700 million. It is in the process of establishing the second phase of our expansion plan which will cost $500 million," Zimplats chairman Dave Brown said at the ceremomy in Selous, west of Harare.
"After the completion of the expansion in 2014, further expansion including an underground mine and a concentrator valued at $1 billion will be undertaken," said Brown.
He spoke at a ceremony to launch a community ownership trust, which will hold a 10 percent stake in Zimplats and receive $10 million to begin undertaking projects to improve schools, roads and bridges.
"Today our dream has been realised. Zimplats community trust will acquire 10 percent shareholding in the company," said Brown.
Zimplats, a unit of South Africa's Impala Platinum which is the biggest foreign investor in Zimbabwe, is one of the first companies to take a step toward complying with a controversial law requiring foreign firms to cede 51 percent of their shares to locals.
President Robert Mugabe, the biggest defender of the legislation, said at the event the law was not meant to stifle foreign investment but increase the role of Zimbabweans in the economy.
"The indigenatisation and empowerment laws are not intended to stifle foreign investment. Far from it," said Mugabe.
"It is our vision to see more partnerships between indigenous Zimbabweans and non-indigenous investors," Mugabe said near one of the firm's mines.
Mugabe told the meeting west of Harare that Zimplats had nothing to fear about its investments and it should build a refinery.
"Mr Brown, go and tell your shareholders that we don't intend to take over (Zimplats). We don't want to steal or rob that which does not belong to us, but we don't want to be robbed as well," Mugabe said to Brown.
Foreign companies in Zimbabwe were given until September 25 to present their plans to the government on how they will comply with the law. Zimplats was given an extension to comply fully with the law.
The equity law has created tensions within the country's shaky unity government, with Prime Minister Morgan Tsvangirai arguing that it will discourage investment.
Mugabe insisted that foreign investments in the county would be safe, if they meet the new requirements.
Mines and banks are the main target of the law.
Community empowerment ... Dave Brown with Saviour Kasukuwere

Saturday, October 8, 2011

Rio Tinto's Murowa Diamonds surrenders 51pc stake

MUROWA Diamonds has agreed to surrender 51 percent stake in line with Government's
Indigenisation and Economic  Empowerment regulations.
This comes as delegates to the inaugural Zanu-PF Indigenisation and Economic Empowerment
Conference here yesterday made it clear that it was time for economic emancipation through
ownership of the country's mineral resources.

Zanu-PF secretary for Indigenisation and Economic Empowerment Cde Saviour Kasukuwere,
confirmed that Murowa Diamonds complied with the empowerment regulations on Thursday.
"Murowa Diamonds wrote to us yesterday (Thursday) saying they have given up 51 percent
shares and these would be given to our people," said Cde Kasukuwere, who is also the Minister
of Youth, Indigenisation and Empowerment.

Cde Kasukuwere said the implementation of the empowerment regulations had moved a gear
up with indications that President Mugabe would be launching the Ngezi Community Share
Ownership Trust worth over US$100 million at Selous, Mashonaland West Province, next week.
"On Thursday, His Excellency the President will launch our programme at Selous. A 10 percent
stake worth over US$130 million will now be in the hands of our communities. By December we
will have more than 100 Community Trusts," he said.
Cde Kasukuwere said the setting up of the Community Share Ownership Scheme for the Ngezi
Community was agreed with Zimplats.
"Other substantive proposals are still being assessed and there are indications that some of
them will be approved with necessary adjustments," he said.

Cde Kasukuwere, however, said there was still some resistance to the empowerment
"The general trend of submitted plans shows a level of resistance in moving away from the proposal by the Chamber of Mines of Zimbabwe. The mining businesses are offering to dispose
26-30 percent as equity on commercial value. The balance is to be claimed as empowerment
credits for corporate social responsibility programmes. It appears this approach has been
agreed to and co-ordinated under the Chamber of Mines of Zimbabwe," he said.

Cde Kasukuwere said some mining firms were still proposing to dispose of equity to indigenous
Zimbabweans in their individual capacities or as a consortium rather than to designated entities
as prescribed by the law. "My overall assessment is that over 90 percent of the submitted proposals do not meet the
minimum requirements of the General Notice 114 of 2011 and there seems to be an element of
"However, I am meeting the various mining houses to achieve agreement on compliance with
the law," he said.
Cde Kasukuwere said since the promulgation of the empowerment regulations, more than 1 000
businesses have submitted their provisional implementation plans as required by the law.

But while some mining firms are still reluctant to abide by the law, Zanu-PF delegates here are
definite that there is no going back on the empowerment regulations as it was in line with the
party's 2010 Mutare National People's Conference resolutions.

"The Zanu-PF Presidium is totally committed to supporting this important initiative led by Cde
Kasukuwere. Cde Kasukuwere we are fully behind you and some of us will leave no stone
unturned to achieve our goal," said Zanu PF national chairman Cde Simon Khaya-Moyo in his

He added: "The indigenisation and economic empowerment programme is a flagship policy of
the party that should be implemented without fear or favour. We ask for permission from
no-one. We must proceed with that zeal and commitment, which made us succeed in liberating
our country.

Zimbabwe Herald

Tuesday, October 4, 2011

Comrades ,we are changing our country!

Comrades ,we are changing our country.The economy will be controlled by our people.Investors are welcome to partner us grow the economy and create jobs for our educated human resource base.The community empowerment trusts are taking shape and the bottom of the pyramid will never be the same again.The trusts will see a shared ownership emerge and the rural areas are set for change.Work underway will make us all proud and l am sure when we complete the assignment ,it will be there for all to see.

Implentation,implementation that's what we are now doing.Our investment analysts and fund managers get ready and those abroad start packing and be here to assist our communities.
Empowerment will benefit the broad masses of our people and that's my commitment.

We are on course.We will achieve.