"Govt should reconsider Indigenisation Act amendment"

Affirmative Action Group (AAG) has said that Government must reconsider the amendment of the Indigenisation Act.

Presenting the 2018 National Budget, Finance Minister Patrick Chinamasa said the Indigenisation Act will be amended to confine the 51/49 threshold to only the two minerals, namely diamonds and platinum, in the extractive sector. However, AAG said that Government should consider introducing a 10% and 30% for locals to benefit in other sectors. Said AAG Matabeleland Chapter president Reginald Shoko:

While we welcome the proposals to lure foreign direct investment through the scrapping of the threshold of indigenisation, we believe the Finance minister Patrick Chinamasa is taking it too much. Indigenisation cannot be allowed to die a natural death. We require the locals to partake in the expansion of our economy and we propose that the threshold be reduced to between 10% and 30% and in some cases, management contracts must be given to locals in order to utilise the human capital we have as a country.

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