I do get rather irate at the Mugabe administration attempting to meld two different words into one so that in their minds they mean the same thing.
Indigenisation: transformation to suit a local culture 2. the capability to manufacture a product, or supply a service independently within a country instead of relying on foreign manufacturers or suppliers.
Nationalisation: the act of taking formerly private assets into public or state ownership.
ZANU PF are intent of pulling the same giant scam on the country with regards to mines and companies as they did with regard to the farmlands in Zimbabwe.
With the landgrab that began in 2000, Mugabe promised the ‘landless blacks” land that they could live and and farm on. The truth of the matter is that the vast majority of the agricultural land in Zimbabwe lies in the hands of the ZANU PF hierarchy.
And most of the land that belongs to ZANU PF lies fallow and unworked, while the people of Zimbabwe struggle to feed themselves.
Mugabe claims that foreign and white owned mines and companies will be indigenised with 51% of those company holdings being passed on to indigenous businessman.
But, and this is what people don’t realise, is that the only indigenous people that will profit from any of this will be ZANU PF big wigs.
Nationalisation is when the companies are taken over by government and, in essence, belong to the country.
As ZANU PF find it difficult to differentiate between nationalisation and whatever the target is as belonging to ZANU PF, thus allowing the target to be broken up into chunk size pieces and quietly absorbed into the private structures.
A simple political osmosis that saps the life out of any viable company or organisation…
“Zimbabwe will set up a sovereign wealth fund to own 51% stakes of mining companies, effectively nationalising half of the country’s key resources sector, a government minister said on Wednesday.
Saviour Kasukuwere, Minister of Youth Empowerment and Indigenisation, said the government in the resource-rich country would publish guidelines on mine ownership regulations on Friday.
The move is likely to discourage foreign investment in the recovering economy and will hit foreign miners operating in Zimbabwe like AngloPlat and Implats, the largest and second largest platinum producers in the world and mining giant Rio Tinto, which runs a diamond mine in the country.
“In the mining sector specifically, we have been getting a raw deal all this time with companies taking money out of the country,” Kasukuwere said.
Kasukuwere said earnings from mineral exports reached $1.7bn in 2010, about 30% of the country’s estimated yearly GDP, but that mining companies had only paid $4m in taxes to the government.”
President Robert Mugabe has rattled investors with his government plans to force foreign-owned firms to sell at least 51% to local blacks.”
ZANU PF are no longer interested in governmental supremacy. They only want complete power, whether it is theirs to take or not, legally or illegally, using force or not. ZANU PF only sees the victory of their actions if there is something that will enrich themselves.
Political power is only a means to an end, and that end is personal riches.
The eye is greedier than the soul.
Robb WJ Ellis
The Bearded Man