$1 billion needed to revive Bulawayo firms - Byo Governor

AN estimated $1 billion is required to revive companies in Bulawayo, Bulawayo Governor and Resident Minister Cain Mathema said yesterday.

In his welcome remarks during the Zanu-PF 12th Annual National People's Conference at the Zimbabwe International Trade Fair (ZITF) grounds yesterday, Mathema said the city's industries were facing serious viability challenges, which he attributed to the illegal economic sanctions imposed on the country by the West.

Governor Mathema's remarks come amid confusion over the disbursement of the $40 million under the Distressed Industries and Marginalised Areas Fund (DIMAF).

Bulawayo companies have also expressed frustration over lack of clarity surrounding the fund with some saying DIMAF was no longer meant for Bulawayo alone.

Governor Mathema, who is also the party's deputy secretary for information and publicity, told thousands of delegates that Bulawayo has suffered financial marginalisation by the banking sector, which was reluctant to fund businesses from the region.

"All in all Bulawayo needs not less than $1 billion for its economy to recover and develop, and a good chunk of this money must go to businesses to be established or owned by our young people, especially those who have just graduated because they have been given the necessary training to run their own businesses," he said.

"We cannot continue having our colleges and universities churning out employees because in any case the MDC and its creators and handlers have made sure that there are no jobs because of their sanctions. They have closed businesses," said Mathema.

"The country is facing a vicious enemy that is doing all it can to recolonise us and keep Zimbabwe under its control. As a result Bulawayo companies do not know if the funds are there or not.

"The banks refuse to fund the companies because they are still owned by foreigners. Seventy percent of the banks in the country are still owned by foreigners."

Mathema said Zanu-PF was the  only party that was given the honour  by the ancestors and the people of Zimbabwe to liberate the country from colonialism.

He echoed President Mugabe's sentiments that Zimbabweans should fight for economic freedom through the indigenisation programme.

Mathema urged Zimbabweans to desist from fuelling ethnic divisions and dismissed sentiments that Matabeleland region was marginalised when  it comes to development.

He said the 87 companies that closed shop in Bulawayo were foreign-owned  and castigated their owners for supporting the imposition of sanctions on the country.

"Personally I do not know of any company that has been taken from Bulawayo to Harare. The 87 companies that closed down in Bulawayo were not owned by the Shona people, Venda or Kalanga people. They were owned by the whites who colonised us," said Mathema.

"The company closures in Bulawayo are  a result of sanctions that were deliberately invited  by the MDC so that workers would blame Zanu-PF."

He attacked non-governmental organisations operating in the city for seeking to reverse the gains of independence by preaching regime change.

"These NGOs such as Radio Dialogue, Bulawayo Agenda, Zimbabwe Election Support Network and Habakkuk Trust  are all funded by the Western  countries to preach regime change in Zimbabwe.

"They make our people fail to stand on their own by promoting the dependence syndrome," said Mathema.