Zimbabwe President Robert Mugabe and first lady Grace Amai, greeting the delegates at the ZANU-PF national conference on December 19, 2008.
Originally uploaded by Pan-African News Wire File Photos
Herald Reporter
ZANU-PF’S Politburo yesterday endor-sed the Indigenisation and Economic Empowerment Regulations whose main objective is to achieve 51 percent Zimbabwean shareholding in existing businesses.
The endorsement followed a detailed explanation by Zanu-PF secretary for indigenisation and economic empowerment Cde Saviour Kasukuwere on the regulations.
"(The) Politburo has endorsed the Empowerment Regulations," Zanu-PF secretary for information Cde Rugare Gumbo said after the 230th Ordinary Session of the Politburo.
"The Secretary for Indigenisation and Economic Empowerment has just explained the whole process.
"It would appear everyone is very happy. There was clarity on the regulations," he said.
Cde Gumbo said the regulations were not a new phenomenon in Sadc as other countries in the region had embarked on similar empowerment drives.
"There is nothing new with the regulations as far as we are concerned. MDC-T is complaining, but it is nothing new in the region," he said.
Prime Minister Morgan Tsvangirai has opposed the regulations.
The main objective of the regulations is to have 51 percent indigenous shareholding in existing businesses with the owners given a five-year period to comply.
The regulations require that all existing businesses with a threshold of US$500 000 should within 45 days —from March 1, 2010 — declare their shareholding status to the Indigenisation and Economic Empowerment Minister through a prescribed form.
New businesses will be required to comply within 60 days.
Businesses that do not meet the 51 percent indigenisation requirement will be expected to submit a plan on how they intend to meet the requirements within 45 days from March 1.
Those with acceptable reasons will be afforded an extension not exceeding 30 days to furnish the authorities with their indigenisation implementation plans.
Cde Gumbo said President Mugabe yesterday explained to new Politburo members how the organ operates and what was expected of them.
"The President explained to new members of the Politburo that they are joining a special club and should make contributions if they are to have impact.
"He also encouraged the old guard to work harder," he said.
New Politburo members include Cdes Kudakwashe Bhasikiti, Patrick Zhuwao, Samuel Mugande and Edison Chakanyuka.
Cde Gumbo said the Politburo discussed the Global Political Agreement and the constitution-making process, which they said they wanted to see succeed.
The Politburo also discussed the 21st February Movement celebrations this weekend, that coincide with celebrations to mark President Mugabe’s 86th birthday.
"All of us are going to Bulawayo for the actual celebrations," Cde Gumbo said.
There was a carnival atmosphere at Zanu-PF’s headquarters as both the party’s staff and Politburo members congratulated President Mugabe on turning 86 last Sunday.
Politburo members Cdes Emmerson Mnangagwa and Nathan Shamuyarira described the President as a principled, straightforward and honest leader.
President Mugabe thanked the party saying: "Tinotenda kubatana kwatinoramba tinako nokutsigira zvikuru musangano. Nyika kuuya kwayakaita uku kuzvipira kwakaitwa."
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