HARARE: He also said that the reserved sectors should benefit and be owned by Zimbabwean citizens only.
The ruling party, Zimbabwe African National Union-Patriotic Front (ZANU-PF), founded on 22 December 1953, embarks on a campaign that forbids foreign nationals from taking control of the country’s economic sub-sectors.
These sectors include transport, retail, wholesale, hair salon, advertising agencies, estate agencies, grain milling, bakeries, tobacco reading and packaging, and artisanal mining.
The party announced yesterday that foreigners will not be allowed to operate in reserved sectors, as the sectors will be reserved for Zimbabwean citizens only.
The Zanu-PF secretary for Indigenisation and Economic Empowerment, Dr. Mike Bimha stated that the issue of reserved sectors was outlined from the Indigenisation and Economic Empowerment policy. He also said that the reserved sectors should benefit and be owned by Zimbabwean citizens only and that those already owned by foreign nationals should partner and empower locals.
It may seem wise that Zimbabwe imposes to put the interests of their people first, although this may affect many Zimbabweans living in neighbouring countries such as South Africa. There are many Zimbabwean nationals that live and work in South Africa, where there are lenient laws and measures put in place for foreign nationals.
“Outside the Economic Empowerment Fund, assistance will also be sought from various vehicles and financial institutions such as Empower Bank, Women’s Bank, Small and Medium Enterprises Development Corporation (SMEDCO) and commercial banks among others. The Ministry of Finance and Economic Development will give guidance in this area,” said Dr Bimba.
A unit within the Zanu PF party and Government would oversee the implementation and evaluation of the Economic Empowerment Policy.
“Government should consider incorporating the main aspects of this policy as it amends the Indigenisation and Economic Empowerment Act, ” he said.
Masses of people remonstrated on Twitter and used #Xenophobic. This is what people had to say see below: