Tourism minister, Walter Mzembi ironically warned tourism operators that they should comply with the indigenisation and empowerment policy or risk losing their licences. This comes amid after he had received an 11-member Indian delegation that arrived in the country on Tuesday to explore investment opportunities.
“l am sounding a warning bell to our operators to comply or risk losing their licences,” said Mzembi.
Under the country’s indigenisation policy, foreign-owned companies are required to sell 51% shareholding to locals.
Since the onset of Indigenous policy, people have expressed mixed feelings about the authenticity of the programme. Some say it is a positive move yet others are condemning it due to reasons better known to them.According to my own point of view, I think the policy is a positive development towards resuscitating Zimbabwean economy in the sense that production being generated will benefit the local indigenous people. Also it will create job opportunities for the ordinary people.
However, on the other hand, the move will scare away potential investors because it is vulnerable to abuse and corruption since there is no clear stipulated law which guarantees that foreign investors are safe.
The move also benefits mostly the Zimbabwean big gurus like ZANU-PF members. Ordinary people are hardly benefiting from this move because of corruption.
The main objective of the Indigenisation and Economic Empowerment Act is to ensure that at least 51% shares of every company are owned by indigenous Zimbabweans.
The country has so far indigenised the mining sector with the majority of the companies having complied. To date 50 share ownership trusts have been launched in a bid to empower local communities.
Do you agree with the move by Minister Mzembi of indigenising tourism investors?
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