ZANU PF is set to parcel out more land to its supporters through the revised Indigenisation and Economic Empowerment policy.
Speaking during a Zanu PF meeting recently, the ruling party’s secretary for Indigenisation and Economic Empowerment Mike Bimha, pictured, said the party supporters will benefit from the land redistribution.
“The revived (Indigenisation and Economic Empowerment) policy also focuses on the need for all of our comrades to equally benefit from the land redistribution exercise that is on-going, all of our comrades are going to get land so that through agriculture and mechanisation they also contribute towards the development of our economy.
“This revived policy is also majoring on the principle of inclusivity, having all wings equally benefitting from the development projects being undertaken by the various government institutions and party wings.
“Access to financial capital is also of paramount importance as the revived policy focuses on projects that are sustainable and people who benefit should grow their businesses and projects such that they contribute to the Provincial Gross Domestic Product (GDP),” Bimha said
He blamed the opposition-run councils for giving licences to foreigners in reserved sectors.
“The revived policy also focuses on guarding the gains of our liberation. In this regard there are certain sectors which were rendered as reserved sectors which include but not limited to bakeries, barbershops, saloons, retailing and others, these were reserved such that the indigenous people get to benefit from investing in these sectors but however we have some MDC local authorities who are giving licences to foreigners and we have engaged the responsible authorities to see the rectification of this.
“The primary goal of the indigenisation and economic empowerment is to see that our people get empowered and we all play a role towards the development of our economy as we move towards an upper-middle income economy under the visionary leadership of our president (Emmerson) Mnangagwa,” Bimha added.
Mnangagwa initially amended the Indigenisation and Empowerment Act which restricted foreign ownership to not more than 49 percent, through the Finance Act No. 1 of 2018, before the government brought back the limit through Section 36 of the Finance Act (No. 2) of 2020.
This comes as the indigenisation policy, launched during the late former president Robert Mugabe’s reign, has previously received criticism, as a looting strategy by those in power, while some said it would spook investors.