ZANU PF Youths Condemn Mthuli Over Scrapping Of 51/49% Law

The Zanu-PF Youth League is not happy with the sentiments expressed by the Finance and Economic Development Minister, Professor Mthuli Ncube.

In an interview with Bloomberg Television, Ncube said that Zimbabwe is in the process of removing the indigenisation law which is discouraging foreign direct investment.

Reacting to what Ncube said to Bloomberg, Zanu-PF youth League Commissar Godfrey Tsenengamu said that the 51/49% ownership remains for platinum and diamonds miners.

In an interview with 263Chat, Tesengamu said:

The President came out and said 51/49 remains for minerals like Platinum and Diamond and now the Finance Minister comes out saying they are scrapping it out completely to give 100% ownership to foreigners.

What is it we are driving at as a country? What has informed that decision by the Finance Minister? What has happened to the declaration by the President which the Finance Minister seems to be overturning?

… The President saw reason in partially reserving that sector for the indigenous as this would ensure the empowerment and economic emancipation of the previously disadvantaged but what’s surprising today is how the Finance Minister can just change that today.

The world over especially in the West there is no foreigner with 100% ownership over strategic sectors especially critical minerals like diamonds and am not sure what’s motivating the Finance Minister to declare that.

… Are we that desperate that we can choose to dis-empower ourselves in order to satisfy foreigners who will create jobs yes but which jobs will never make us rich? We will remain poor but employed when we continue giving away our resources in this manner.

More: 263Chat

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