IT seems Zanu PF has realised there isn’t much to be gleaned from “indigenising” foreign-owned banks and in desperation has decided to take their indigenisation onslaught to private schools.
Indigenisation minister Saviour Kasukuwere (pictured) has now scaled the heights of absurdity by including privately-owned educational institutions including crèches and institutions of higher learning to the asset grab list.
As a policy to woo back disenfranchised voters, indigenisation was bound to hit a brick wall considering businesses have borne the brunt of a decade of sustained economic decline.
Most of these companies have downscaled operations and are now shells of their former selves before Zimbabwe plunged into economic abyss.
The trickle-down effect of taking over such companies will have very little, if any, effect on the man in the street unlike the land reform programme.
With an unemployment rate of more than 80%, very few will benefit from the employee share-ownership schemes. Even the much touted Youth Empowerment Fund is a drop in the ocean considering the amount of people involved.
This reality is becoming all too apparent to Zanu PF hence the propounding of regulations for private institutions to cede a 51% stake to locals. Clearly this policy was never well thought-out hence the ad hoc manner in which it is being implemented.
How will they operationalise this policy to non-profit organisations without shareholders? Clearly it has now become a racist enterprise of expropriation bordering on madness.
At this rate Kasukuwere will be gazetting regulations compelling all households to be indigenised.