This article was last updated on April 16, 2022
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On Wednesday, PM Morgan Tsvangirai said that the “warped” policy of “indigenization” is daunting prospective investors. President Robert Mugabe’s ZANU-PF party maintains that all companies, both private and public, are almost 51 percent owned by black Zimbabweans.
The head of the Movement for Democratic Change (MDC) party, Mr. Tsvangirai, recently came home after his trip to the United States. He says the indigenization policy causes him a headache and pushes back investors.
Mr. Tsvangirai said: “Throughout these meetings the flawed nature of indigenization policy and our toxic politics proved to be major issues affecting investor confidence.”
When he was in New York, he briefed U.N. Secretary-General Ban Ki-moon on Zimbabwe’s development, within the unity administration, towards free and fair elections.
He said: “It is possible to rebuild this economy. There is a lot of good will out there to do business with Zimbabwe, as long we have political systems and predictability and as long as we come out with investor-friendly model that balances the interest of the investment and the need to empower the ordinary person and not a few well-connected elite.”
He added: “Our biggest handicap is that if we don’t graduate from the current stagnation, because of discord on government policy, we are likely to see [continued] stagnation which does not lead to growth in jobs, growth in the economy and hence the crisis around the liquidity.”
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