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Indigenisation drive must be pragmatic

I THINK that we need to apply extreme caution in the execution of the contentious Indigenisation Act along with the regulations.

While theoretically they might be good documents, we have to be pragmatic by exploring the potentially debilitating repercussions.
Firstly, I feel the law and regulations only seek to further empower those who are already empowered. Will a poor and jobless youth in Murambinda be in a position to get a 51% stake in Old Mutual? The politicians really need to be clear on who is going to be empowered.
It is more likely that the haves rather than the have nots will benefit.
At the end of the day these policies will further widen the gap between  rich and  poor.
Again, I wonder if adequate consultations were held between the government and players in industry or were they just imposed? Will those foreign-owned business consortiums readily cede control of their companies to local “partners”? Will they not just close shop, leaving thousands unemployed and the economy in shambles?
It’s not only a question of merely “empowering” the people but we have to be cognisant of the after-effects of it.

Herbert Kazonda,

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