News / National
White MDC-T senior official's company targeted for indigenisation
17 Apr 2012 at 05:20hrs | Views
A WHITE senior MDC-T official, John Kinard, has claimed that he is being threatened by alleged Zanu-PF youths demanding a 51 percent shareholding in his company.
Kinard who is the MDC-T treasurer for Midlands North said a mob recently besieged his offices in Kadoma demanding majority control of the firm.
Under the country's economic empowerment programme, foreign-owned companies must transfer control of at least 51 percent of their Zimbabwe interests to locals.
The policy is aimed at helping economically empower the country's historically marginalised but majority black population.
Kinard blasted the policy claiming it was a ruse aimed at making richer already wealthy individuals in Zanu-PF.
The MDC-T says while it backs the principle of black economic empowerment, the approach taken by Zanu-PF would undermine economic growth while benefiting very few people.
Kinard who is the MDC-T treasurer for Midlands North said a mob recently besieged his offices in Kadoma demanding majority control of the firm.
Under the country's economic empowerment programme, foreign-owned companies must transfer control of at least 51 percent of their Zimbabwe interests to locals.
Kinard blasted the policy claiming it was a ruse aimed at making richer already wealthy individuals in Zanu-PF.
The MDC-T says while it backs the principle of black economic empowerment, the approach taken by Zanu-PF would undermine economic growth while benefiting very few people.
Source - news
