Zimplats to proceed with expansion plan

PLATINUM mining giant Zimplats says it will proceed with its US$460 million expansion plan after agreeing with Government on a process to produce an acceptable revised indigenisation plan by November 15 this year.


Zimplats chairman Mr David Brown said this after a joint Press briefing with Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere.
Minister Kasukuwere said he was happy with the process agreed with Zimplats as that will see the mining firm fulfilling the objectives of indigenisation.
The Government had last week resolved to cancel Zimplats' licence after the mining firm had failed to come up with an acceptable indigenisation plan.


The giant platinum miner had earlier indicated that the move by Government to localise 51 percent of its shareholding could affect its expansion plans.
Foreign-owned companies are required, in terms of the Indigenisation and Economic Empowerment Act, to cede for value at least 51 percent of their equity.
Sticking points to earlier discussions centred on the insistence by Zimplats that Government should recognise mineral reserves the firm released to the State as part fulfilment of indigenisation and empowerment requirements.




The Government had declined to award credits for the block of mineral reserves the platinum mining companies valued at an estimated US$150 million.
But both parties emerged from two days of discussions yesterday with consensus and a view to ensure the indigenisation process is mutually beneficial to all.
"I am happy to say that as a ministry and as a Government we have agreed on a process that will see us now move to achieve the empowerment objectives in line with the objectives of the laws of the land," said the minister.


As such, Zimplats and the Ministry of Youth Development, Indigenisation and Empowerment will immediately set up a community share ownership scheme.
After the joint press briefing Mr Brown pledged that Zimplats would continue with its current expansion drive to ramp up annual production by 90 000 ounces.
"We are working on a revised (indigenisation) plan and we will submit the plan by November 15. We will obviously know at that stage what the position is, so we can't comment on the details.


"With regards to our expansion plans we are busy with phase II at the moment and the cost is about US$460 million. That should add about 90 000oz of platinum per annum," said Mr Brown.
He said the ongoing phase II expansion programme would be completed by 2014 and any further expansion would be discussed with the Government.
Zimplats is currently producing about 180 000 ounces of platinum per annum, but the Ngezi Phase II expansion programme would raise output to 270 000 ounces per year.


This followed the successful completion of the US$340 million Ngezi Phase 1 expansion project, which raised platinum output by 88 percent to 180 000 ounces.
Continuous expansion investment has positively translated into increased revenue.
Zimplats recorded a 64 percent jump in full year after tax profit to US$200 million while revenue rose 30 percent to US$527 million.


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Youths should shun violence

Masvingo Bureau
Zimbabwean youths should shun violence and concentrate on ensuring that they benefit from Government's indigenisation  policies, Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere has said.
Minister Kasukuwere said youths should develop themselves economically instead of expending their energy in violence.

Speaking during the International Youth Day at Mucheke Stadium in Masvingo on Friday last week, Minister Kasukuwere said Government was committed to helping youths towards realising their goals.
"Youths should totally desist from violence and even in situations where people have differences there should be amicable ways of trying to convince each without employing violence.
"Differences in opinion on whatever subject should not lead people to be violent against each other so we are urging the youths to keep away from violence," he said.

Minister Kasukuwere said youths should be at the fore-front of empowerment programmes.
"Youths should take advantage of the ongoing efforts by the Government to indigenise the economy through the economic indigenisation programme.
"Young people should be at the forefront of making sure that Zimbabweans take ownership of their resources for the benefit of future generations."

He also urged youths to exploit their various God given talents in whatever field of human endeavour.
Minister Kasukuwere said going to school was not the only way youths could prosper in life as there were other opportunities especially in the informal sector.
He warned youths about the threat posed by the HIV and Aids scourge urging them to avoid being involved in sexual activities that increased infections.

Deputy Minister Tongai Matutu said Government would continue to pressure authorities to give loans to the youths for income-generating projects.
He said the ministry was allocated US$1 million for loans.

Deputy Minister Matutu said although the figure was small the people handling the distribution should make sure that all youths in Zimbabwe benefited.
Masvingo Governor and Resident Minister Titus Maluleke hailed the holding of International Youth Day Celebrations saying youths had a crucial role to play.
Poetry and music by Sulumani Chimbetu spiced the celebrations.

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Entrepreneurs must embrace partnerships with foreign companies as such synergies will help local businesses to grow.

YOUTH Development, Indigenisation and Empowerment Minister Saviour Kasukuwere has urged entrepreneurs to embrace partnerships with foreign companies as such synergies will help local businesses to grow.

Speaking during the launch of Acc Tech Zimbabwe in Harare last week, Minister Kasukuwere said Government supports strategic alliances between foreign and local companies as long as such ventures adhered to the country’s laws. Acc Tech Zimbabwe, which specialises in providing accounting and financial advisory services, was launched after its original company, Dawn Advisory Services, clinched a franchise deal with Acc Tech International.

                       YOUTH Development, Indigenisation and Empowerment Minister Saviour Kasukuwere

Minister Kasukuwere said the alliance between the two companies would help enhance competition and improve the finance services sector in the country. The minister said provision of proficient accounting services would aid the country’s endeavour to achieve economic growth.
“The coming in of Acc Tech into the country will help our businesses to manage their accounting and payroll systems. In general, it will help to improve how we do business in Zimbabwe and help in our endeavour to achieve economic growth. This year our economy is forecast to grow by at least 12 percent and provision of such efficient accounting services will aid this growth,” he said.

The minister said his ministry supports partnerships between locals and foreigners contrary to the view perpetrated by the Western media that Zimbabwe is hostile to foreign investment.
“Foreign investors are very welcome in this country. There has been a lot of talk contrary to this but what we want to assure you is that once there is a partnership that is in place, the ministry will be with you.
“We want win-win solutions so that both the locals and foreigners do benefit from the businesses.

There are a lot of opportunities for investment in this country, especially in the mining and agriculture sector, and I want to urge the youth to identify partners and take advantage of these opportunities.
“Once you have made such an arrangement it will be easy to get support from my ministry,” he said.
Speaking during the same occasion, Acc Tech International CEO Mr Morne Swanepoel said the official coming of the company into Zimbabwe would make it easier for enterprises to manage their businesses.

“The coming of our company into this country means that there will be improved financial services advice to these key sectors of the economy like the tobacco industry, mining and manufacturing.
“There will be improved service in human resources management, budgeting and accounting for all these key sectors,” he said.
He also revealed that Acc Tech is the leading implementer of the Sage Software (Enterprise Resource Planning) ERP and Customer Relationship Management (CRM) solutions in the world and the company is also accredited as a Gold Partner by Microsoft.
Formed in 1995, Acc Tech International is headquartered in South Africa and has a footprint in nine countries on the continent.-The Sunday Mail

Independence not supported economically is meaningless

Political independence is meaningless without indeginisation of the economy, a Cabinet Minister has said.
Youth Development, Indeginisation and Empowerment Minister Saviour Kasukuwere made the remarks while addressing nearly 1 000 people — among them businessmen, chiefs and legislators — on Government’s indeginisation drive in Marondera on Wednesday.


“We appreciate that the land question has been addressed, but it is not enough without talking about economic empowerment for black people,” said Minister Kasukuwere.
“The whites had the objective of controlling our resources, including mineral wealth as expounded by the Rudd Concession, and they gave this control to their trusted lieutenants.”
This, the minister said, was designed to benefit a few individuals at the expense of the majority. He reiterated that democratisation of the economy was neither political nor racist but was simply meant to ensure the black majority controlled their resources.

“The legislative framework of indeginisation was debated at length in Parliament and legislators finally agreed that the President signs it into law.
“It was with consensus that we agreed to the inclusion of the majority of people in the day-to-day running of the economy, with foreign investment coming in after our empowerment,” said Minister Kasukuwere.

He cited the example of black granite, which is mined in Mutoko but is exported without the local community benefiting.

“What’s there to show we’re principals of our country when not even a single house in Mutoko has been built using granite?

“Our wealth is our natural right, hence all companies with a capital base of more than US$500 000 should have an indigenous ownership of 51 percent,” he said.
The minister pointed out that Marondera did not have many companies with the required capital base hence the aim was resuscitation of defunct entities like the Cold Storage Company.
Chairman of the National Indeginisation and Economic Empowerment Board, Mr David Chapfika, told delegates that they wanted accelerated rural development.

“We were allocated US$5 million from the budget this year, while we’ll borrow capital from markets, collect levies from companies and also contributions from individuals for implementing the empowerment programme,” said Mr Chapfika.

Scores of people were turned away as the venue proved too small for the large turn-out from across the whole of Mashonaland East Province.

Empower Youths - President Mugabe

President Mugabe has challenged United Nations member states to institute policies that will nurture and empower the youth so that they play an integral role in the socio-economic and political affairs of their nations.
Addressing the UN High-Level meeting on youth at the UN headquarters yesterday, the Head of State and Government and Commander-in-Chief of the Zimbabwe Defence Forces, said Zimbabwe has since independence in 1980 regarded youths as the vanguard of the country.

“While the high level meeting on youth is advocating for the mainstreaming of youths into contributing to issues pertaining central governance, it is of paramount importance the United Nations member states institute policies that will give proper orientation that will shape the youths to become responsible future leaders,” he said.

Cde Mugabe said Zimbabwe had since 1980-regarded education as priority in nurturing the youths and giving them preparatory skills that would empower them to contribute meaningfully to the socio-economic and political affairs of the country.

Youth Development, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere

“Member states should adopt a catch-them- young concept such as the education for-free policies my Government has introduced among other policies for youth including health in the face of HIV and Aids,” he said.

President Mugabe also called on the region to form a union for youths to deal with HIV and Aids awareness programmes at regional level.

He said that through the indigenisation and empowerment Act of Parliament, Zimbabwean youth need room to become employers by establishing their own entities in mining, manufacturing and agriculture among others.
Child parliament is another policy introduced to youths whereby Cabinet ministers interacted with the young generation and shared notes on governance issues.

It is against this background that President Mugabe challenged the meeting to adopt and pluck a leaf from Zimbabwe’s experience in empowering the youths to become future leaders.
The UN High-level Meeting on Youth is part of the International Year of Youth held under the theme: “Youth: Dialogue and Mutual Understanding”.

The meeting seeks to address issues on strengthening international co-operation regarding youth and enhancing dialogue, mutual understanding and active youth participation as indispensable elements towards achieving social integration, full employment and the eradication of poverty.
It is also focusing on challenges to youth development and opportunities for poverty eradication, employment and sustainable development.

Youth Development, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere said President Mugabe was attending the meeting to show Government’s commitment to youth empowerment.
According to a draft resolution adopted at the UN General Assembly on the organisation of the high level meeting, member States should pay due attention to relevant development goals, including MDGs, relevant outcomes and programmes of action including the World Programme of Action for Youth and General Assembly resolution 62/126.

Member states, observers, and representatives of UN systems entities, civil society, youth organisations and the private sector would participate in the meeting for “interactive and substantive discussions”.
The General Assembly president must produce a draft text, in consultation with member states, taking into account input from youth-led organisations.