Kasukuwere comes out on Share Ownership schemes

Exiled former Minister Saviour Kasukuwere has distanced himself from allegations that he profited from the Community Share ownership Scheme that was launched when Kasukuwere was Minister of Indiginisation.

The communities never benefitted from the said shares that were supposedly given to the community trusts.

Said Kasukuwere, “The companies reneged on their obligations and only paid $5m after the coup. Those who controlled the companies then released the payments after taking over power. I guess it was politics.”

In 2013 MDC issued a statement saying the scheme was a ZANU PF plot to fleece the businesses of their hard earned cash.

“The Community Share Ownership Scheme in its current form is tantamount to theft by Zanu PF where companies are arm-twisted into supporting an illegal scheme that has no credence in a normal country. Zanu PF is on a crusade to fleece companies in order to fund its election war chest.” MDC said then.

The Emmerson Mnangagwa government has removed the indiginisation law.

Under the policy, all foreign companies were to cede a majority stake to local Zimbabweans.

The 51-percent stake wias divided between a National Indigenisation and Economic Empowerment Fund, a community share ownership scheme and a programme for employees.

Speaking to the media in 2013 at the launch of one of the ownership schemes by Implats Kasukuwere said Implats would be paid from future dividends.

“We can’t ask poor Zimbabweans to fork out their money to buy ore which is in their land,” he said, adding that: “This policy is meant to reverse the colonial imbalances.”

Source – Byo24