Information service of the Pontifical Mission Societies since 1927
Harare (Agenzia Fides)- The government of Zimbabwe has proposed a law to ensure that at least 51% of shares in every public company or any other business are owned by indigenous Zimbabweans. According to critics of President Robert Mugabe this would aggravate the country's already precarious economic situation.
Indigenisation and Economic Empowerment Bill”, Now the Indigenisation and Economic Empowerment Bill will go to parliament. It is expected to back the bill, which stipulates that no company restructuring, merger or acquisition can be approved unless 51% of the firm goes to indigenous Zimbabweans. The empowerment bill says that "indigenous Zimbabwean" is anyone disadvantaged by unfair discrimination on race grounds before independence in 1980.
It also provides for the establishment of an empowerment fund which will offer assistance to the "financing of share acquisitions" from the public-owned firms or assist in "management buy-ins and buy-outs." And all government departments and statutory bodies will be asked to obtain 51% of their goods and services from businesses in which controlling interest is held by indigenous Zimbabweans. The move is likely to deepen the country's economic turmoil and could give President Robert Mugabe an opportunity to enrich his supporters and consolidate ranks ahead of general elections next year, analysts say.
The earlier government decision to transfer land belonging to Europeans to its supporters threw the economy of Zimbabwe into chaos and the “granary of southern Africa ” became a grain importer. A land reform was necessary and was foreseen in 1979 when independent Rhodesia became Zimbabwe but it should be done with different methods. The application of positive discrimination criteria (compensate indigenous Afrifcans for past discrimination) paradoxically threatens to introduce new forms of injustice. In the country there are about 100,000 citizens of European origin, Zimbabweans for generations who have worked to contribute to the progress of the country. (L.M.) (Agenzia Fides 26/6/2007 righe 31 parole 363)
