News / National
Let's fight corruption, says Mnangagwa
29 Apr 2016 at 06:46hrs | Views
Corruption must be fought in all spheres of life for economic prosperity, Vice President Emmerson Mnangagwa has said. Addressing delegates attending the annual business conference at the 57th edition of the Zimbabwe International Trade Fair on Wednesday, VP Mnangagwa said corruption must be tackled.
"For any economy or country to succeed, corruption must be fought left, right and centre," he said.
This year's edition of ZITF is running under the theme 'Innovate, Integrate and Industrialise'. VP Mnangagwa said Government is working flat out to stem out the vice from the country's socio-economic fabric, which saw it dissolving an earlier commission set up to fight corruption because it had also become corrupt.
"Let it not be the duty of the Government alone, but be the duty of all of us who love our country, to expose corruption wherever and whenever we see it," he added. He said some individuals may know people or companies that are corrupt, but leave the vice to continue permeating society and institutions, as it is rarely published or exposed.
VP Mnangagwa called on captains of industry attending the annual exhibition to ensure that corruption is fought against not just spoken against in order to stem it out entirely.
Meanwhile, VP Mnangagwa reiterated the reasons why President Mugabe issued a statement to clarify confusion over indigenisation saying some junior officials in Government had lost direction.
He emphasised the position that there were three broad sectors in terms of which compliance with the indigenisation and Economic Empowerment Act can be complied with.
These three main sectors are resources sector, the non resources sector and reserved sector. He said there is no negotiation on the 51-49 equity position between local and foreigners in the resources, as the endowments are finite.
However, he said in the non-resources sector, investors can negotiate with line ministries on the most appropriate compliance arrangement, which does not necessarily have to a 51-49 percent equity arrangement.
Further, he said in terms of the reserved sector, no foreign investor is allowed to invest in these areas and they include transport, bakery industry, transport, employment agencies and hair salons among others.
The VP pointed out that the role of the Minister of Indigenisation is to co-ordinate the activities of line ministries through Cabinet.
"For any economy or country to succeed, corruption must be fought left, right and centre," he said.
This year's edition of ZITF is running under the theme 'Innovate, Integrate and Industrialise'. VP Mnangagwa said Government is working flat out to stem out the vice from the country's socio-economic fabric, which saw it dissolving an earlier commission set up to fight corruption because it had also become corrupt.
"Let it not be the duty of the Government alone, but be the duty of all of us who love our country, to expose corruption wherever and whenever we see it," he added. He said some individuals may know people or companies that are corrupt, but leave the vice to continue permeating society and institutions, as it is rarely published or exposed.
VP Mnangagwa called on captains of industry attending the annual exhibition to ensure that corruption is fought against not just spoken against in order to stem it out entirely.
Meanwhile, VP Mnangagwa reiterated the reasons why President Mugabe issued a statement to clarify confusion over indigenisation saying some junior officials in Government had lost direction.
He emphasised the position that there were three broad sectors in terms of which compliance with the indigenisation and Economic Empowerment Act can be complied with.
These three main sectors are resources sector, the non resources sector and reserved sector. He said there is no negotiation on the 51-49 equity position between local and foreigners in the resources, as the endowments are finite.
However, he said in the non-resources sector, investors can negotiate with line ministries on the most appropriate compliance arrangement, which does not necessarily have to a 51-49 percent equity arrangement.
Further, he said in terms of the reserved sector, no foreign investor is allowed to invest in these areas and they include transport, bakery industry, transport, employment agencies and hair salons among others.
The VP pointed out that the role of the Minister of Indigenisation is to co-ordinate the activities of line ministries through Cabinet.
Source - the herald
