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That the economy needs to be indigenised is not even subject for debate but there seems to be loose ends that need to be tied up to achieve the desired results.

Youth Development, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere has been very articulate in most instances though confrontational sometimes, but we feel him and his team need to launch an aggressive local and international campaign to sensitise the market on this noble idea.

He acquainted himself well at the World Economic Forum on Africa in Capetown South Africa last year where a dinner was hosted on Zimbabwe as many sought to understand what was going on in the economy.

These are the kind of platforms that Zimbabwe can take advantage of to spread the real gospel of indigenisation.

Misinformation or lack of information has caused foreign investors and even some local pensive ones, to make certain decisions that are costly to the economy. Of course the issue has also been politicised to the detriment of this country when in fact it is a noble programme meant to correct historical imbalances.

I find indigenisation to be a win-win and prosper-thy-neighbour concept that we should all embrace. Of course the detail is in the implementation. We have no reason to doubt that this will be done effectively and some tricking of implementation strategies will be done where necessary for all to benefit.

However, foreign investors particularly have been made to believe that it is the worst evil any Government can ever commit. These views need to be changed.

We need foreign investors, in fact every economy needs foreign investors in terms of propping up local capital, skills and knowledge transfer and the creation of jobs, among other benefits that accrue from foreign capital.

Many foreign investors are so endeared to Zimbabwe such that these roadshows will be fully subscribed once Government puts its mind to it. Locals will also need to be appraised on the indigenisation concept and progress made, including those in the diaspora who can be ambassadors.

There is so much that is misunderstood about the programme and a lot more that the powers that be could still learn from others in terms of effective implementation and other broad-based concepts that can be adopted.

I remember vividly that Minister Kasukuwere and Dr Ignatius Chombo led a fact-finding mission to Rusternburg South Africa to learn from the Bafokeng community and it was indeed an eye-opener. So there you have it, there is always something to learn even as we seek to educate others.

Already communities are being empowered through schemes that we have seen President Mugabe launch in various towns and cities while employees and management in some firms now own portions of the firms. This is real empowerment.

The first Community Share Ownership was launched last year in Mhondoro-Ngezi as part of Zimplats’ contribution towards indigenisation.

Such facilities as the US$10 million youth fund by Old Mutual is part of the fruits that come with indigenisation and economic empowerment. Of course the pace has not been as fast as we would want it but progress is now being made.

Zimbabwe is endowed with enough wealth to ensure that everyone gets a fair share of the cake.
But the benefits registered so far run the danger of being neutralised by the other side of the programme that is coming more and more to the fore because of lack of information.

Of course foreign companies already in Zimbabwe and those intending to come were never going to gladly embrace the Government’s indigenisation programme but much of this resistance is coming from ignorance of the benefits and background to the indigenisation process.

Naturally the economy should benefit from indigenisation and not be hurt out of it but the latter is what is being experienced as reflected in many forms.

Yesterday we carried a story that said some investors had lost appetite on opportunities here due to negative perceptions about indigenisation and economic empowerment laws.
Many investors believed indigenisation is about nationalising assets of foreign investors and yet this is not necessarily the case.

It is just that such investors need to sell a significant chunk of their shareholding to black indigenious Zimbabweans.

However they say perception is as good as fact. Statistics show that the Zimbabwe Investment Authority has so far approved projects worth US$820 million, a significant drop from US$7 billion recorded last year. The measly figure for this year is a result of the wrong perceptions about indigenisation.

If this does not nudge Minister Kasukuwere into action in terms of roadshows and education campaigns, then I do not know what will.

At a time the economy is struggling under persistent liquidity challenges, fresh foreign capital could help mitigate the challenges but this can only happen after an intensive public relations campaign that needs to be embarked on sooner rather than later.

But what we need to appreciate from the onset is that Government cannot do it alone. Private sector players, civil society and other stakeholders can render financial and material support to support the awareness campaign.

Zimbabwe needs this cleansing exercise so that wrong perceptions are not allowed to perpetuate.
The National Indigenisation and Economic Empowerment Board under Minister Kasukuwere’s ministry spearhead the programme, jointly with the Zimbabwe Investment Authority and others to come up with an aggressive campaign that will change the face of indigenisation to the outside world.

Local companies such as Old Mutual, Zimplats, Mimosa, BAT Zimbabwe and many others can be part of a delegation that should tell the true story of indigenisation to the rest of the world.
What Zimbabwe has is a model that can be replicated elsewhere as processes to transform Africa gather pace.

This economy can easily attract US$10 billion worth of investment annually once such issues as misconception of policies are ironed out.

Treasury needs money to fund key projects in the economy but the money is just not there. So it can do with complementary efforts from stakeholders.

The economic empowerment conference that began in the capital yesterday is one sure way of ensuring that the message gets out there.

The theme — “Consolidating economic empowerment as a tool for sustainable economic development” —  employees, communities and the Zimbabwean nation at large — is quite apt and should bring to the fore issues that need attention.

Issues such as international best practises for financing indigenisation and economic empowerment transaction, overcoming legal barriers to indigenisation and how to leverage cohesive local governance and decentralisation sound highly informative.

We hope delegates will come out of the conference armed with information and seize opportunities emanating therefrom.

Certainly there is no going back on indigenisation but as we leap forward, lets clean-up any misconceptions while panel beating any areas that may compromise a programme that has so much potential to transform the economy’s complexion.
In God I trust!

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