Zanu-PF revises indigenisation policy

Zanu-PF has come up with a Revised Indigenisation and Economic Empowerment policy which has already been incorporated into the National Development Strategy 1 (NDS1).  The policy is expected to benefit both the public and private sector in building the economy.  

Speaking at a press conference in Harare yesterday, the party's Secretary for Information and Publicity Simon Khaya Moyo said the department of Indigenisation and Economic Empowerment has since come up with a revised Zanu-PF Indigenisation and Economic Empowerment policy.

He said that the department of Indigenisation and Economic Empowerment in 2019 started a consultative process in its formulation of the revised policy.  This, he said, was necessitated by the coming in of the New Dispensation, with its thrust on reviving the economy that is premised on the mantra "Zimbabwe is Open for Business".  

"And also the devolution agenda, changes in the indigenisation legislation, and the Transitional Stabilisation Programme (TSP) influenced by President Mnangagwa's vision towards an Upper Middle Income Economy by 2030."

More so, the need for a revised policy came into effect after it had come to the party's attention that the amendment to the Indigenisation and Economic Empowerment Act (Chapter 14:33) (IEE Act) contained in the Finance (No 2) Act, 2020 (section 36) may have caused some misconception to the general public, stakeholders and investors in the different economic sectors.

As enshrined in the party 2018 manifesto the revolutionary party continues to seriously take the Indigenisation and Economic Empowerment laws with a view of empowering the people.  He added that the party then embarked on a consultative process leading to the hosting of three breakfast meetings, in Harare, Bulawayo, and Mutare with the private sector and other stakeholders.

The department also consulted with various party structures including, the Veterans of the Liberation Struggle, the Women, and the Youth League.

"As such, the department of Indigenisation and Economic Empowerment has since come up with revised Zanu-PF Indigenisation and Economic Policy, which was approved by both the Politburo and Central Committee and incorporated into the new economic blueprint, the NDS1," said Khaya Moyo.

Zanu-PF Secretary for Indigenisation and Economic Empowerment Dr Mike Bimha unpacked the policy saying it will be implemented in Government.  

"The NDS1 has taken almost if not all elements of the revised policy. "Empowerment is not an event, it is a process it takes time and it's not just the party and Government, but even the people who are being empowered. We need to be proud to be Zimbabweans, to be proud of making things in Zimbabwe, and also to be proud in buying products made in Zimbabwe," said Dr Bimha.

He said that the party is expecting the private sector to play its part in the implementation of certain areas of the policy.

"The private sector he said also encompassed SMEs as well as the informal sector," said Dr Bimha.