The controversial Indigenisation Act suspended

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By TAPIWA MAKORE
Published: April 14, 2010

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HARARE —The Zimbabwean government has suspended the controversial Indigenization and Economic Empowerment Act with immediate effect to allow for broad based consultations on the best way forward, a government official has said.
The law would have seen foreign firms exceeding US$500 000 in capital threshold cede 51 percent of their shareholding to blacks while discriminating against the white Zimbabweans.
Zimbabwe’s government of national unity has suspendend the controversial Indigenisation law with immediate effect, a government official announced Tuesday.
The Prime Minister Morgan Tsvangirai’s spokesperson James told journalists that the law was null and void and therefore has been suspended till further consultations with all stake holders are completed.
“The cabinet has today declared those regulations null and void, and they are being suspended to allow for broad-based consultations on the best way to proceed,” said Maridadi.
“Nothing is going to happen until the regulations have been reviewed to get a consensus on the way forward,” he said
This announcement comes after Prime Minister Morgan Tsvangirai had said last week he would now order Youth Development, Indigenization and Economic Empowerment Minister Savior Kasukuwere to announce a revised Indigenization and Empowerment Act before the council of ministers which he chairs.
The Indigenisation Act has been a borne of contention in the coalition government with ZANU-PF pushing for its hurried implementation while the MDC insisted on consulting Zimbabweans with suspicion that the law could be manipulated by their ZANU-PF counterparts.
Most Zimbabweans where not however opposed to indigenization but they questioned the integrity of the responsible Minister who crafted the regulations Saviour Kasukuwere as well as the AAG’s stance which is a ZANU-PF extension with a view that they wanted to create for themselves a conducive environment for looting.

Zimbabwe Telegraph-3MG Newspapers-www.3mgmedia.ca

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