News / Local
Biti, Ncube sabotaging Bulawayo claims Dr Labode
15 Mar 2012 at 09:21hrs | Views
Matabeleland Confederation of Zimbabwe Industry President Ruth Labode has accused Finance minister Tendai Biti and Minister of Industry and Commerce Welshman Ncube of sabotaging Bulawayo by withholding releases of Distressed and Marginalised Areas Fund (Dimaf).
She said the two ministers have no experience in handling funds meant to revive industries in Bulawayo.
She appealed to Vice President John Nkomo to intervene.
"Baba Nkomo am insisting ukuthi indaba le should be taken seriously, now we are hearing that DIMAF is now in Midlands.
"Are you Nkomo taking $30 million from our $40million and to give it to Midlands?" asked Labode.
Labode claimed that Ncube and Biti roped in CABS through Old Mutual to administer the funds "but they have no capacity to handle it".
"I appeal Nkomo that Gono be made to oversee the funds, he has vast experience on it," said Labode.
During the meeting Central Bank governor Gideon Gono said $900 000 has been released from applications worth $27million submitted.
The fund was launched in October by Biti following a recommendation by the task force on the Let Bulawayo Survive Campaign chaired by Industry and Commerce minister Welshman Ncube.
However, it has failed to take off and has been mired in controversy amid squabbling in the inclusive government with some saying it was not meant for Bulawayo companies alone.
She said the two ministers have no experience in handling funds meant to revive industries in Bulawayo.
She appealed to Vice President John Nkomo to intervene.
"Baba Nkomo am insisting ukuthi indaba le should be taken seriously, now we are hearing that DIMAF is now in Midlands.
"Are you Nkomo taking $30 million from our $40million and to give it to Midlands?" asked Labode.
Labode claimed that Ncube and Biti roped in CABS through Old Mutual to administer the funds "but they have no capacity to handle it".
"I appeal Nkomo that Gono be made to oversee the funds, he has vast experience on it," said Labode.
During the meeting Central Bank governor Gideon Gono said $900 000 has been released from applications worth $27million submitted.
The fund was launched in October by Biti following a recommendation by the task force on the Let Bulawayo Survive Campaign chaired by Industry and Commerce minister Welshman Ncube.
However, it has failed to take off and has been mired in controversy amid squabbling in the inclusive government with some saying it was not meant for Bulawayo companies alone.
Source - Byo24News
