News / Regional
Mat South ready for Community Share Ownership Scheme launch
15 May 2012 at 05:51hrs | Views
THE Matabeleland South Community Share Ownership Trust/Scheme (CSOT/S) will be launched at Pretoria Portland Cement (PPC) in Colleen Bawn in Gwanda on Friday.
The CSOT/S is a countrywide Government initiative aimed at spearheading development and empowering rural communities by giving them a 10 percent stake in all businesses that exploit natural resources in their areas.
In an interview in Esigodini yesterday, Matabeleland South Governor and Resident Minister Angeline Masuku said the Government and the participating companies were finalising preparations for the launch.
"Preparations for the CSOT/S launch are progressing well on the ground. I was talking to Youth Development, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere on my way here and he said he would be having a meeting with the participating companies in Harare tomorrow to finalise preparations for the event," said Governor Masuku.
"The idea being that when President Mugabe comes to launch the programme there will be something substantial. The launch will be conducted at PPC in Colleen Bawn."
Zanu-PF Matabeleland South provincial chairman and Member of the House of Assembly for Insiza North Cde Andrew Langa expressed excitement over the development.
"The CSOT/S will be launched on Friday 18 May at Colleen Bawn by President Mugabe. As a province we are very happy about that and we are busy preparing for the day," said Cde Langa who is also the Deputy Minister of Public Service.
Meanwhile, the Acting Provincial Administrator for Matabeleland South, Mr Midard Khumalo, invited all chiefs in the province to attend the launch, as they were the custodians of the programme.
A total of 18 gold mining companies and a cement manufacturer have affirmed their participation in the Gwanda CSOS/T, a major component of the indigenisation drive.
The mines that are taking part in the scheme in Gwanda include Blanket, Vumbachikwe, Jessie, Farvic Consolidated, Jonnie, Bucks, Horse Shoe, New Corburg, Imani, Bena Mill, Mbeta, Valentine Mill, ABE, AER, Mina Nawe, Koodoovale Mill, Lady Arna and PPC, the cement manufacturer.
Under the programme the community has a say in how to use the share of the company's profits in the implementation of developmental programmes in their area.
The Government has been engaging mining companies in Gwanda as some of them including Vumbachikwe Mine were reportedly resisting the programme.
Minister Kasukuwere is on record saying CSOT/S are part of Government efforts to consolidate the gains of the liberation struggle through indigenisation and economic empowerment of the previously marginalised black people.
In 2011 alone mining companies in Zimbabwe, most of which are foreign owned, exported more than $1 billion worth of minerals and only 15 percent of this amount was paid to Government, meaning that the mining of the resources have not been beneficial to the people of Zimbabwe.
Matabeleland South will become the third province after Mashonaland West and Midlands, in which the community share ownership trust has been launched.
Zimplats was the first to launch the scheme in Mhondoro, Chegutu and Zvimba in October last year. Unki Mines in Shurugwi was the second and last month the scheme was launched at Mimosa Mine in Zvishavane.
After mines, the next phase of the scheme is set to target more natural resources including wildlife.
The CSOT/S is a countrywide Government initiative aimed at spearheading development and empowering rural communities by giving them a 10 percent stake in all businesses that exploit natural resources in their areas.
In an interview in Esigodini yesterday, Matabeleland South Governor and Resident Minister Angeline Masuku said the Government and the participating companies were finalising preparations for the launch.
"Preparations for the CSOT/S launch are progressing well on the ground. I was talking to Youth Development, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere on my way here and he said he would be having a meeting with the participating companies in Harare tomorrow to finalise preparations for the event," said Governor Masuku.
"The idea being that when President Mugabe comes to launch the programme there will be something substantial. The launch will be conducted at PPC in Colleen Bawn."
Zanu-PF Matabeleland South provincial chairman and Member of the House of Assembly for Insiza North Cde Andrew Langa expressed excitement over the development.
"The CSOT/S will be launched on Friday 18 May at Colleen Bawn by President Mugabe. As a province we are very happy about that and we are busy preparing for the day," said Cde Langa who is also the Deputy Minister of Public Service.
Meanwhile, the Acting Provincial Administrator for Matabeleland South, Mr Midard Khumalo, invited all chiefs in the province to attend the launch, as they were the custodians of the programme.
A total of 18 gold mining companies and a cement manufacturer have affirmed their participation in the Gwanda CSOS/T, a major component of the indigenisation drive.
The mines that are taking part in the scheme in Gwanda include Blanket, Vumbachikwe, Jessie, Farvic Consolidated, Jonnie, Bucks, Horse Shoe, New Corburg, Imani, Bena Mill, Mbeta, Valentine Mill, ABE, AER, Mina Nawe, Koodoovale Mill, Lady Arna and PPC, the cement manufacturer.
Under the programme the community has a say in how to use the share of the company's profits in the implementation of developmental programmes in their area.
The Government has been engaging mining companies in Gwanda as some of them including Vumbachikwe Mine were reportedly resisting the programme.
Minister Kasukuwere is on record saying CSOT/S are part of Government efforts to consolidate the gains of the liberation struggle through indigenisation and economic empowerment of the previously marginalised black people.
In 2011 alone mining companies in Zimbabwe, most of which are foreign owned, exported more than $1 billion worth of minerals and only 15 percent of this amount was paid to Government, meaning that the mining of the resources have not been beneficial to the people of Zimbabwe.
Matabeleland South will become the third province after Mashonaland West and Midlands, in which the community share ownership trust has been launched.
Zimplats was the first to launch the scheme in Mhondoro, Chegutu and Zvimba in October last year. Unki Mines in Shurugwi was the second and last month the scheme was launched at Mimosa Mine in Zvishavane.
After mines, the next phase of the scheme is set to target more natural resources including wildlife.
Source - TC
