BULAWAYO - Youth Development, Indigenisation and Empowerment Minister, Saviour Kasukuwere has encouraged Zanu PF youths in Matabeleland to seize all foreign owned mines in the region.

Addressing a Zanu PF youth meeting at Lobengula Vocational Training Centre in Bulawayo Saturday, Kasukuwere told youths from his party to implement the  controversial Indigenisation and Economic Empowerment Act by  taking over mines  in the region  that  have scaled down operations and which are owned by
foreigners.

“What I encourage you  as youths  from Matabeleland  is that  you  identify businesses  especially  mines that  are  underperforming  or  closed  and reclaim them,” said Kasukuwere.

Kasukuwere said these foreign companies have closed their mines in Zimbabwe "intentionally" to sabotage" the country’s economy.

“You find that mines have been closed for long periods. It is obvious that people who closed those mines are not affected by this, instead they are living large in foreign countries, therefore we must see to it that we reclaim these mines,” he said.

Kasukuwere's statements come at the backdrop of reports that about 9 000 firms, among them 46 mining companies, faced closure due to failure to comply with the newly-promulgated law - compelling foreign firms to give up to 51 percent of their equity to locals.

Although the list is fraught with discrepancies in that it classifies certain local companies as foreign, the boisterous indigenisation minister was quoted Sunday as saying they were in the "process of sending" legal notices or papers to compel targeted companies to implement the regulations.

Kasukuwere unequivocally declared that those who do not comply with the order will not only face prosecution, but have their trading licences annulled.

Last month, a group of Zanu PF youths seized the Zambezia, Canberra and Capri Buildings in Bulawayo’s Central Business District.

The youths claimed they got the directive from Kasukuwere. The controversial bill has been amended several times due to its draconian nature with Prime Minister Morgan Tsvangirai on record lambasting the law several times.

Since the law came into effect, foreign investors have refused to come to Zimbabwe at the same time the companies already in existence have scaled down operations while monitoring developments.

The Zambezia and Canberra, situated along Fort Street belong to a Mr Laloo, a Zvishavane based businessman of Indian origin and the Capri (Capri Pizzeriae Restorante Italiano) along 11th Avenue houses a bar and a restaurant under the Pizzaghetti brand name is owned by the Di Palma family, who are of Italian origin, having lived in Zimbabwe since World War II.

The Indigenisation Act was passed by the previous Parliament in 2008, when the former Zanu government held a majority. The MDC described the regulation as a ‘unilateral Zanu Act’ which will continue to scare away investors.

By Daily News