News / National
Zim banks will definitely be indigenised says Kasukuwere
04 Aug 2012 at 15:03hrs | Views
Youth Development, Indigenisation and Economic Empowerment minister Saviour Kasukuwere yesterday vowed to extend company seizures to banks, saying there won't be any sacred cows and only "prayer" would be spared in the indigenisation crusade.
Speaking during an indigenisation strategic meeting in Lupane yesterday, Kasukuwere said there would be no sacred cows in the takeover of financial institutions.
"They decorate their walls but treat our people like criminals. So those opposed to this policy can do this at their own peril, we are not going back. There is no sacred institution in our country. The only thing we won't indigenise is prayer to the Lord."
His sentiments come as his fierce critic in the exercise, Reserve Bank governor Gideon Gono, is instructing banks to have at least $100 million capital reserves.
The move is seen by Kasukuwere's sympathisers as a ploy to throw spanners into the takeovers.
"I know you have heard a lot of things about banks, but we are not going back on banks," he said.
The minister said the banks did not want to assist the locals yet they used to back the white establishment.
"They want to pretend as if they serve people from heaven," he said.
Asked after the meeting whether he believed Gono's proposal would affect the indigenisation of financial institutions, Kasukuwere said: "There is nothing stopping the indigenisation of banks."
Kasukuwere said they had received overwhelming response from mining firms in Matabeleland North save for one, Cassmine/NewDawn Mine.
"There is a problem with Sanders (owner of the mine), the white man is a problem but we will set him straight," he said.
He said Pretoria Portland Cement had injected $1 million into the Umguza Community Share Ownership Trust Scheme and ceded 4,5% of its shares to the scheme.
"All the agreements have been done and soon we will be announcing that," said Kasukuwere.
Speaking during an indigenisation strategic meeting in Lupane yesterday, Kasukuwere said there would be no sacred cows in the takeover of financial institutions.
"They decorate their walls but treat our people like criminals. So those opposed to this policy can do this at their own peril, we are not going back. There is no sacred institution in our country. The only thing we won't indigenise is prayer to the Lord."
His sentiments come as his fierce critic in the exercise, Reserve Bank governor Gideon Gono, is instructing banks to have at least $100 million capital reserves.
The move is seen by Kasukuwere's sympathisers as a ploy to throw spanners into the takeovers.
"I know you have heard a lot of things about banks, but we are not going back on banks," he said.
The minister said the banks did not want to assist the locals yet they used to back the white establishment.
"They want to pretend as if they serve people from heaven," he said.
Asked after the meeting whether he believed Gono's proposal would affect the indigenisation of financial institutions, Kasukuwere said: "There is nothing stopping the indigenisation of banks."
Kasukuwere said they had received overwhelming response from mining firms in Matabeleland North save for one, Cassmine/NewDawn Mine.
"There is a problem with Sanders (owner of the mine), the white man is a problem but we will set him straight," he said.
He said Pretoria Portland Cement had injected $1 million into the Umguza Community Share Ownership Trust Scheme and ceded 4,5% of its shares to the scheme.
"All the agreements have been done and soon we will be announcing that," said Kasukuwere.
Source - newsday
