ZANU PF Mulls Economic Policy To Replace Indigenisation Act

The ruling ZANU PF has revealed its plans to come up with an economic policy that will replace the Indigenisation and Empowerment Act.

Speaking with The Herald in an interview, the party’s Secretary for Indigenisation and Economic Empowerment Dr Mike Bimha said that the party shall consult as widely as possible to come up with a national Indigenisation and Economic Empowerment policy. He said:

The party, which is supreme to Government, wanted to get perspectives of various groups of people, including the private sector, parastatals and small and medium enterprises, regards the proposed review of the empowerment policy.

What we want is to come up with a policy as a party, but it will have a national outlook. As you know, Government comes from the party, but Government should get input from the party.

The Indigenisation and Economic Empowerment Act has over the years been criticised for its demands which others deem too high thereby scaring potential investors away.

President Emmerson Mnangagwa’s administration amended the Act but some observers say the amendments were not enough.

More: The Herald