|‘Indigenisation programme slow’|
|Saturday, 04 August 2012 15:34|
ONLY 38 percent of indigenisation plans from different sectors of the economy have been approved by the Government, raising fears that most companies especially in the mining sector had authoured window-dressing projects meant to buy time.
According to information gathered from a draft Medium Term Policy review that seeks to evaluate the progress of the economic blue print, implementation of the indigenisation programme has been sluggish especially in the mining sector, where players have been at the forefront of crying loud against the indigenisation thresholds.
The data shows that of the 260 mining companies that submitted their indigenisation plans, only 69 were approved while 14 were rejected.
In the manufacturing sector, the data shows that of the 258 plans submitted to the Government only 128 projects were approved.
Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere said the slow implementation of the process was not a sign that the process was hitting a brick wall.
“It is an ongoing process and since there are different proposals it takes time to analyse each of the proposals,” he said.
Minister Kasukuwere said although some of the plans were rejected, it was not a sign that, that would be the end.
“They were rejected because they did not meet the Government expectations. It does not mean that is the end. We will not rest until each and every company has complied with the laws of the country,” he said.
However, some analysts argue that even for those companies whose plans have been approved, implementation has been slow and shrouded in secrecy.
Even those companies that have launched Community Ownership Schemes have not come up with programmes to ensure that the rest of the share percentage goes up to the mandated 51 percent.
The Chamber of Mines, the largest group representing mining companies in the country and Government have clashed on the implementation of the programmes.
Some of the companies have been accused of dragging the programme hoping the policy might change.
The data on MTP also shows that the Youth Development Fund has funded 688 projects worth more than US$1,3 million. The fund has been distributed mainly through CBZ which funded 84 projects worth US$76 700.
Another bank ZABG has funded eight projects worth US$138 000. A total of 2535 jobs have been created through these facilities, the date shows.
Minister Kasukuwere said the country must have confidence in the youth and the general population to drive the empowerment drive.
“Why should we not have faith in our youth, women and the citizens who have already achieved a lot under very hostile conditions?” he asked.