Opinion / Columnist
Gono-Kasukuwere clash, fertile imagination to create news-selling headlines
21 Aug 2011 at 07:57hrs | Views
OVER the past three or so weeks, the Governor of the Reserve Bank of Zimbabwe, Dr Gideon Gono, has publicised his input on the indigenisation and empowerment programme currently being implemented by the Government of Zimbabwe.
Dr Gono formalised his contribution by adding an addendum to his monetary policy statement through which he promotes what he calls the Supply and Distribution Indigenisation and Empowerment model (SADIE).
While Dr Gono's input ' as a valuable member of the Government ' is welcome and positive, a section of the media has made attempts to place his contributions in juxtaposition to the existing indigenisation and empowerment paradigm, with his submission touted as a possible alternative to the official programme as articulated by the Minister of Youth Development, Indigenisation and
Empowerment, Saviour Kasukuwere.
However, a fair analysis of the RBZ governor's suggestions reveals that what he is saying is already part and parcel of the empowerment programme.
While he focuses on one aspect of the policy, namely the indigenisation of the supply chain (prescribed in the Act by a section compelling Government departments, agencies and parastatals to procure at least 50 percent of their goods from indigenous suppliers), the official line propounded by Kasukuwere articulates indigenisation and empowerment in its totality, encompassing the takeover of majority equity, community share ownership schemes, employee share-ownership schemes and, of course, the indigenisation of the procurement process.
Hence, Dr Gono and Kasukuwere are singing the same empowerment song with the only difference being that Dr Gono focuses on a specific part of the hymn while the minister sings the full song.
The ultimate objective is to fundamentally alter the economic dynamic of the country, resulting in the genuine emancipation of the majority citizens in Zimbabwe.
The SADIE model, which some sections of the media are trying so hard to promote as an alternative to indigenisation, is nothing new but an addition to what has already been legislated and policied.
Therefore, the so-called Gono-Kasukuwere clash is nothing but the fertile imagination of certain reporters zealous to create news-selling headlines.
Having explained Dr Gono's model as an interpretation of the existing policies, it is now imperative that Zimbabweans be enlightened about the key aspects of the indigenisation and empowerment programme yet they get easily excited again when someone picks up one aspect of the policy and present it as something new.
The cornerstone of the indigenisation programme is the prescription for indigenous Zimbabweans to take over at least 51 percent of equity in companies worth $500 000 or more.
This condition will be enforced on a sector-by-sector basis with the mining sector having already started submitting plans for consideration by the Government.
From the mining sector, the policy will be implemented in other sectors like banking and finance, manufacturing and energy.
The second key element of the programme are employee share ownership schemes through which members of management and ordinary workers will be empowered through acquisition of part of equity in the companies they are working in.
Forward-thinking companies and responsible worker representatives in various companies have already started developing models for worker empowerment.
The other key aspect of the indigenisation programme is the implementation of community share ownership schemes through which communities in resource-endowed areas will get at least 10 percent of equity shares and the accompanying returns to finance community development projects.
The funds will be administered by a trust representative of the local chief, the rural district council leadership, youths, women, the disabled and ordinary community members.
Once again, enlightened communities are already developing their plans and implementation models in anticipation of the impending beneficiation from their natural resources.
Once indigenous Zimbabweans take control of key sectors like mining, energy development and agro-processing and gather enterprise momentum, an indigenous sovereign wealth fund will then be created to finance other areas of development.
A vibrant indigenous supply chain, as envisaged by Dr Gono, will inevitably emerge from the success of the majority equity takeover and the associated community and employee empowerment programmes.
While the visualised picture of empowerment is all rosy and all-encompassing, a lot of groundwork needs to be done in terms of indigenising various processes that have always been dominated by foreign powers.
For example, the development of indigenous knowledge systems and indigenous financial systems will provide the anchor against which the economic empowerment programme will be implemented.
Therefore, jumping to piecemeal empowerment, narrowing our focus to the supply chain, will not result in complete empowerment of the citizens of this country.
Hence, rather than emphasising on academic debates that seek to delay the inevitable, the people of Zimbabwe should be joining forces to create a solid indigenous knowledge, cultural, and financial base through which the majority of people will be economically empowered.
--------------
Kurai Masenyama is a local economic analyst.
Dr Gono formalised his contribution by adding an addendum to his monetary policy statement through which he promotes what he calls the Supply and Distribution Indigenisation and Empowerment model (SADIE).
While Dr Gono's input ' as a valuable member of the Government ' is welcome and positive, a section of the media has made attempts to place his contributions in juxtaposition to the existing indigenisation and empowerment paradigm, with his submission touted as a possible alternative to the official programme as articulated by the Minister of Youth Development, Indigenisation and
Empowerment, Saviour Kasukuwere.
However, a fair analysis of the RBZ governor's suggestions reveals that what he is saying is already part and parcel of the empowerment programme.
While he focuses on one aspect of the policy, namely the indigenisation of the supply chain (prescribed in the Act by a section compelling Government departments, agencies and parastatals to procure at least 50 percent of their goods from indigenous suppliers), the official line propounded by Kasukuwere articulates indigenisation and empowerment in its totality, encompassing the takeover of majority equity, community share ownership schemes, employee share-ownership schemes and, of course, the indigenisation of the procurement process.
Hence, Dr Gono and Kasukuwere are singing the same empowerment song with the only difference being that Dr Gono focuses on a specific part of the hymn while the minister sings the full song.
The ultimate objective is to fundamentally alter the economic dynamic of the country, resulting in the genuine emancipation of the majority citizens in Zimbabwe.
The SADIE model, which some sections of the media are trying so hard to promote as an alternative to indigenisation, is nothing new but an addition to what has already been legislated and policied.
Therefore, the so-called Gono-Kasukuwere clash is nothing but the fertile imagination of certain reporters zealous to create news-selling headlines.
Having explained Dr Gono's model as an interpretation of the existing policies, it is now imperative that Zimbabweans be enlightened about the key aspects of the indigenisation and empowerment programme yet they get easily excited again when someone picks up one aspect of the policy and present it as something new.
The cornerstone of the indigenisation programme is the prescription for indigenous Zimbabweans to take over at least 51 percent of equity in companies worth $500 000 or more.
This condition will be enforced on a sector-by-sector basis with the mining sector having already started submitting plans for consideration by the Government.
From the mining sector, the policy will be implemented in other sectors like banking and finance, manufacturing and energy.
The second key element of the programme are employee share ownership schemes through which members of management and ordinary workers will be empowered through acquisition of part of equity in the companies they are working in.
Forward-thinking companies and responsible worker representatives in various companies have already started developing models for worker empowerment.
The other key aspect of the indigenisation programme is the implementation of community share ownership schemes through which communities in resource-endowed areas will get at least 10 percent of equity shares and the accompanying returns to finance community development projects.
The funds will be administered by a trust representative of the local chief, the rural district council leadership, youths, women, the disabled and ordinary community members.
Once again, enlightened communities are already developing their plans and implementation models in anticipation of the impending beneficiation from their natural resources.
Once indigenous Zimbabweans take control of key sectors like mining, energy development and agro-processing and gather enterprise momentum, an indigenous sovereign wealth fund will then be created to finance other areas of development.
A vibrant indigenous supply chain, as envisaged by Dr Gono, will inevitably emerge from the success of the majority equity takeover and the associated community and employee empowerment programmes.
While the visualised picture of empowerment is all rosy and all-encompassing, a lot of groundwork needs to be done in terms of indigenising various processes that have always been dominated by foreign powers.
For example, the development of indigenous knowledge systems and indigenous financial systems will provide the anchor against which the economic empowerment programme will be implemented.
Therefore, jumping to piecemeal empowerment, narrowing our focus to the supply chain, will not result in complete empowerment of the citizens of this country.
Hence, rather than emphasising on academic debates that seek to delay the inevitable, the people of Zimbabwe should be joining forces to create a solid indigenous knowledge, cultural, and financial base through which the majority of people will be economically empowered.
--------------
Kurai Masenyama is a local economic analyst.
Source - Zimpapers
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