News / National
Most companies are cooperating on indigenisation says government
31 Mar 2013 at 08:56hrs | Views
The government has approved 100 indigenisation plans out of a total of 397 initiatives proposed by mining companies as the country's empowerment drive moves a gear up.
The revelations come at a time the Ministry of Youth Development, Indigenisation and Empowerment is tightening screws on companies that are failing to meet deadlines.
Addressing legislators during a capacity building workshop in Vumba last week, indigenisation director in the Ministry of Youth Development, Indigenisation and Empowerment Mr Tingadini Fungate disclosed that most companies have been co-operating with Government.
"Despite the challenges we are facing in making sure that the national cake is shared among citizens most corporates are interested in complying with the laws of the land.
"Clearly the companies appreciate that this is a national programme and not a Kasukuwere project. As a ministry we are only implementing what the country has ordered us to implement," he said.
Mr Fungate disclosed that efforts are also underway to engage companies that are failing to meet deadlines contained in their empowerment proposals.
Last week, one of the country's biggest elevator manufacturers, Schindler Lifts Zimbabwe, was given a 30 day ultimatum to comply with indigenisation law.
Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere wrote to the company's managing director, a Mr Simm, advising the company of Government's position.
Schindler Lifts Zimbabwe had earlier sought an extension of the earlier deadline, arguing that it needed to consult with shareholders based in South Africa and Switzerland.
The company's managing director Mr Simm told The Sunday Mail that his company will comply with the country's indigenisation laws.
"We have got to comply," he said.
"We will abide by the country's indigenisation laws as a good corporate citizen. We want to maintain our presence in the country and the matter is already being negotiated by our shareholders in South Africa and Switzerland," he said.
The revelations come at a time the Ministry of Youth Development, Indigenisation and Empowerment is tightening screws on companies that are failing to meet deadlines.
Addressing legislators during a capacity building workshop in Vumba last week, indigenisation director in the Ministry of Youth Development, Indigenisation and Empowerment Mr Tingadini Fungate disclosed that most companies have been co-operating with Government.
"Despite the challenges we are facing in making sure that the national cake is shared among citizens most corporates are interested in complying with the laws of the land.
"Clearly the companies appreciate that this is a national programme and not a Kasukuwere project. As a ministry we are only implementing what the country has ordered us to implement," he said.
Last week, one of the country's biggest elevator manufacturers, Schindler Lifts Zimbabwe, was given a 30 day ultimatum to comply with indigenisation law.
Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere wrote to the company's managing director, a Mr Simm, advising the company of Government's position.
Schindler Lifts Zimbabwe had earlier sought an extension of the earlier deadline, arguing that it needed to consult with shareholders based in South Africa and Switzerland.
The company's managing director Mr Simm told The Sunday Mail that his company will comply with the country's indigenisation laws.
"We have got to comply," he said.
"We will abide by the country's indigenisation laws as a good corporate citizen. We want to maintain our presence in the country and the matter is already being negotiated by our shareholders in South Africa and Switzerland," he said.
Source - ZimPapers
