'MDC-T misleading investors,' says Kasukuwere

Published: 10 June 2013

EMPOWERMENT Minister Saviour Kasukuwere has accused the MDC-T of engaging in cheap politics over the country's indigenisation programme and ruled out changes to the policy which has divided the coalition administration.

The MDC-T saysvowed to ditch the programme if it comes into power after the next election, arguing the policy does not address the country's investment crisis and runaway unemployment of over 80 percent.

The programme forces foreign companies to cede majority ownership of their Zimbabwe operations to locals with Zanu-PF insisting this was necessary to address historical imbalances in the control of the country's economy.

And speaking at the conclusion of platinum miner, Zimplats' US$1 billion compliance plan, Kasukuwere said claims by the MDC-T that the enabling legislation for the programme would be amended to exempt some companies were inaccurate and an attempt to mislead investors.

"Some of our colleagues in Government have been peddling falsehoods that the law will be amended to make exemptions for investments in certain areas of the economy. The law will not be amended because there is no need to do so," he said.

"We have shown that the provisions of the law allow Government to lower the threshold of indigenisation in areas such as massive investments for a certain period of time.

"Unfortunately despite our overtures to implement this regime our colleagues have continued to engage in cheap politicking and unnecessarily confusing the investors."

The deal with Zimplats, owned by the world's second largest platinum miner Implala Platinum (Implats), has turned out to be one of Kasukuwere's key successes after critics warned that major investors could leave the country or scale back expansion programme to protest the forced seizure of their assets.

The Zanu PF minister said the government was paying "full value" for the shares and dismissed claims the programme was only benefiting an already wealthy elite.
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