News / National
Zimbabwe, Implats headed for a major showdown
02 Apr 2012 at 07:44hrs | Views
The Zimbabwe government and Implats could be headed for a major showdown following indications that Implats will play hard ball over the transfer of a controlling stake in Zimplats to locals.
While everything seemed on course when Youth Development, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere and Implats chief executive David Brown agreed on an indigenisation plan last month, recent developments have seen Zimplats' parent company constantly shifting goal posts.
Brown recently told an investors'briefing in South Africa that Implats will only transfer a 31% stake in Zimplats to the National Indigenisation, Economic and Empowerment Board after receiving "fair cash compensation".
The remaining 20% of the controlling stake Implats has agreed to hand over to locals will be shared equally among the company's workers and the Community Share Ownership Trust.However, Government maintains that it will not pay for resources that rightfully belong to the people of Zimbabwe.
Kasukuwere Saturday said: "The fact of the matter is we are taking our resources and there is no need for us to concentrate on the trivial. What Brown said or did not say does not change what we are doing here, which is taking our resources for the benefit of the majority."
Brown hinted that Implats only agreed to the deal so as to "take the heat off their backs" and was now looking at ways of getting the best of what he termed an "in-principle agreement".
While everything seemed on course when Youth Development, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere and Implats chief executive David Brown agreed on an indigenisation plan last month, recent developments have seen Zimplats' parent company constantly shifting goal posts.
Brown recently told an investors'briefing in South Africa that Implats will only transfer a 31% stake in Zimplats to the National Indigenisation, Economic and Empowerment Board after receiving "fair cash compensation".
The remaining 20% of the controlling stake Implats has agreed to hand over to locals will be shared equally among the company's workers and the Community Share Ownership Trust.However, Government maintains that it will not pay for resources that rightfully belong to the people of Zimbabwe.
Kasukuwere Saturday said: "The fact of the matter is we are taking our resources and there is no need for us to concentrate on the trivial. What Brown said or did not say does not change what we are doing here, which is taking our resources for the benefit of the majority."
Brown hinted that Implats only agreed to the deal so as to "take the heat off their backs" and was now looking at ways of getting the best of what he termed an "in-principle agreement".
Source - Byo24News
