Indigenisation the only solution to sanctions - Zanu-PF

Zanu-PF Masvingo Provincial Secretary for Indigenisation, Ted Muzoroza has hailed government's indigenisation and economic empowerment policy, saying it is the only solution to the country's economic problems against a background of the illegal sanctions imposed on the country by the west.

Speaking to reporters, Muzoroza said as the country will be celebrating 32 years of social and political independence, Zimbabweans should brace for the continued implementation of the policy as government will compel all foreign-owned conglomerates to cede more stake to the government and various communities they operate in through the community share-ownership trusts for the benefit of their communities and the country at large.

He said Masvingo is one of a few provinces that have not made meaningful progress towards indigenisation as most companies still remain in the hands of foreigners, singling out Renco Mine, Bikita Minerals, and Malilangwe, among others companies.