LATEST: Zhuwao warns foreign companies

Innocent Ruwende Senior Reporter

GOVERNMENT has given foreign owned companies up to the end of this month to comply with the country’s indigenisation laws or have their licences revoked.

This comes after foreign owned companies spurned Government’s offer to contribute 10 percent of their annual earnings to the empowerment levy.

Addressing a press conference in Harare today, Youth, Indigenisation and Economic Empowerment Minister Patrick Zhuwao said Cabinet on Tuesday unanimously passed a resolution directing that from April 1 this year all line ministries proceed to issue orders to cancel licences of non-compliant businesses within their respective sectors of the economy.

“It is March 23, 2016, three months into 2016 and businesses have continued to disregard Zimbabwe’s indigenization laws as if daring our President and his Government to do something about their contemptuous behaviour.”

Details to follow…

Pin It
  • Kenge

    Kana hanya. Nyika makauraya kare chipedzisai henyu

  • Hamunyari

    In China people like Zhuwao are charged for Economic Treason and shot by firing squad.
    President Mugabe is always claiming to emulate and look East, let’s see some action!

  • dude

    Itai zvamajaira kani, no need to tell us, tanzwa nenhamo isu! Paradzai handiti ndizvo chete zvamunoziva!

  • Rawboy

    Are these guys serious about inviting foreign investors with frankly brain dead policies like these?

  • Thulanr

    The indigininisation ministry has nothing to offer.

    Where is the 15bn . we need policy to curb recurrence ministers that to stick to failed policies.

    Zhuwavo ita policy dzekudzikamisa Mbuya varikupepereka…

  • Wakisai

    Thought line ministries were free to negotiate and use their discretion when negotiating contracts with foreign investors and partners?

    Don’t see anything that supports a ‘unanimous’ Cabinet decision that supports Zhuwao’s half baked ultimatums when the consensus is for Minister Chinamasa and the RBZ to do their utmost to improve FDI and relations with international financial institutions?

  • Nkululeko

    Just noticed the explosion of free expression on Herald forum comments, always a good sign HE has left the country.
    When did Mugabe leave for his trip to Japan and for how long?

    • Ngoni

      After the inevitable detour via Singapore, bet he comes back with………….. a promise of 1000 tonnes of humanitarian aid in the form of rice?

  • Chabarwa

    Won’t be surprised if that clown Zhuwao soon gives another deadline insisting all UN and foreign aid agencies feeding starving millions of Zimbabweans surrender 51% of their assets!

  • haiwawo

    The final nail in the coffin.

    I guess his thinking is they took land and all the developments and benefited and so should do the same with businesses. This at a time you are inviting people to invest and asking the diaspora community to send money. Who will be mad enough to do sink sweat and capital and have the majority shares commandeered by someone who has not invested a dime into the enterprise? Also, other countries are competing for the same investment.

    Lunacy is running amok in the Zimbabwean government. It is unfortunate that the centre has lost control and any madman can make policy pronouncements to stoke his/her ego that have real negative impact now and beyond the person;s tenure .

    We do not need external nemies – we are our own worst enemies.

  • Japana Hapana

    This fool must just keep quiet. In fact companies must be allowed to operate just paying taxes ONLY considering the state of our economy and the need to create employment. Obviously this moron can’t see it at all

  • Blackwave

    Companies what companies? This government is highly divided judging by the differing statements that come from these overpaid ministers. One says the indigenisation law needs to be amended and another one is still bent on enforcing it as is. Its like we have several gvts. That is why things are not working. There is just so many conflicting policy positions taken that even the leaders themselves are now confused. Its a big circus…

  • Telescope

    I am sure next week we will hear a different story. Zimra and Chinamess and Reserve Bank will be singing a sad sad Song. Less tax, no money and lower growth prospective.

  • todiizvazvo

    We are tired of these empty threats!!!

  • Investor

    Enjoy the the fruits of your positions while the sun still shines. Because after no one can employ you and it is evident you have no relative skill in anything. You failed the farms. For a license not to be revoked you will be handsomely paid. But once you are out we know a fool and his money are soon parted. God bless Zimbabwe.

  • yowe

    Ras Zhuwao 15bn iri kupi???

  • haiwawo

    Mwajairawo kupamba zvavapfupi nekureba. Zvamakatora ivhu kurima kwacho kuripi gore negore kutenga kubva kunaanaZambia kuri kurimwa nevamakadzinga nekukumbira chikafu kunaanaWFP muchiimba kuti hatidi GMO asi imi muri kuitenga? Hatisi mafuza tese.

    As for the insults, it shows the shallowness of a typical servile ZANU PF supporter who does not think of nation but self and who thinks short term rather than long term That is why all ZANU PF government is reactive rather than proactive. Hezvo vamwe vakuru vari kuchema kuti we were duped on the diamonds sokunge mainge musingazivi kuti diamond riri kubuda. When one resorts to insults unenge wagumirwa on logical arguments. Saka stupid ndiani?

    As for the rubble, you would know best with the party’s look East policy – surprising how your party is gung ho on using the same currency yemabhunu namely the US dollar asi muchiimba sovereignty.

  • Observer gonzo

    Where is the moderator….such language used in support of a different opinion to gerro will never make it!!

    • Rawboy

      Apparently so hey.
      Animal farm for shuwa pano……Some animals are more equal than others!!

  • Rawboy

    ….A citizen of the country who wants to know where his/her hard earned taxes are being spent on and why….I would have thought that’s a reasonable answer to your question.Then again maybe not given the suffixed profanities.Eish!