Indigenisation, 'do not seek to punish investors': Tsvangirai

Government's indigenisation policy does not seek to punish foreign investors but ensure inclusive participation of Zimbabweans in the mainstream economy, Prime Minister Morgan Tsvangirai said on Friday.

Addressing delegates after a tour of companies in Gweru and Kwekwe, PM Tsvangirai, said anyone skeptical of the policy should make extensive consultations before making premature judgments.

The tour was organised by the Confederation of Zimbabwe Industries to examine the challenges facing local industry.

"What we are talking about is broad-based empowerment of our people. The majority of Zimbabweans should be brought into the economy, but of course we need partners to ensure social improvement and upliftment of our people.

"We do not seek to punish investors by any of our policies. Those sceptical of the indigenisation policy should come and we can always sit and address the challenges. No one really wants to engage in a game of fixing people," he said.

After touring Bata Shoe Company and Anchor Yeast in Gweru, PM Tsvangirai, stressed the need to protect local companies that were still struggling to perform following a decade long economic meltdown.
This came about as a result of illegal sanctions imposed on Zimbabwe by the West, which the PM's MDC-T party called for.

Youth Development, Indigenisation and Empowerment Minister, Saviour Kasukuwere said the indigenisation policy was designed to empower local people who have been marginalised for long.
"Indigenisation is all about inclusive growth. We do not want to destabilise our economy but at the same time we want to ensure participation of local people in the economy," he said.

Minister Kasukuwere urged investors, particularly in the mining sector to work with locals in line with the country's indigenisation laws.
"Government is not against foreign investors but we are saying let there be shared ownership with local people," he said.

Minister Kasukuwere some textile and food companies were involved in underhand dealings with certain Government officials.
He said Government had reserved 10 sectors for local businesspeople, including the food and textile industries.

Minister Kasukuwere reiterated the need to protect local companies saying this would boost employment creation.
This was after Anchor Yeast chief executive, Mr Rodreck Musiyiwa, pleaded with Government that local companies were facing stiff competition from foreign companies that were bringing cheaper products.

Said Mr Musiyiwa: "As a result of the multi-currency system, companies from outside are bringing in cheaper yeast which is making it difficult for us to compete.
"We are saying Government should give us a window period of at least two years to recover - given the challenges that we faced in the past 10 years.

"As Anchor Yeast we can supply the whole country with yeast and what we only need is support from the policy makers."
The local companies had earlier lamented that Government was sidelining them by awarding tenders to foreign companies ahead of them but PM Tsvangirai said some of them were charging ridiculous prices that were economically unviable.

PM Tsvangirai also toured Steel Makers and Sable Chemicals in Kwekwe.