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Indigenisation: More emotion than reasoning

SAVIOUR Kasukuwere’s answers in the article “I only consult when there is need –– Kasukuwere” (Zimbabwe Independent March 12)  show, without doubt, that there is more emotion than reasoning behind this whole indigenisation issue. Industry, commerce and manufacturing will collapse the same way agriculture did.

Isn’t it a pity that in a country where we have so many educated people we should have such people being appointed ministers? I support indigenisation but not the kind that is being advocated by Zanu PF –– theirs is expropriation. No sane investor would allow a situation where they are made to lose control of their business.
What this means is that businesses are going to hold back on investments and extract as much value as they can from existing assets. The result is that capital formation will cease, unemployment will rise, tax revenue will collapse, social services will run down and hospitals will close.
Kasukuwere and the other chefs will prosper and Zimbabweans, the perennial big losers, will suffer more. If we have ministers like Kasukuwere, we do not need “enemies” to impose any sanctions! Any bank that uses depositors’ funds to fund such acquisitions will be very irresponsible.
The banks should be left to determine how they want to manage their loan books and not be dictated to by people who are not even fit to be garden boys.

C Chogugudza,

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