saviour kasukuwere 15.11.10.jpgZimbabwe’s indigenisation programme has been endorsed by participants to the World Economic Forum currently underway in Cape Town, South Africa, who said indigenous people should benefit directly from their country’s natural resources.

The World Economic Forum drew participants from countries across the globe to discuss key issues fundamental to economic development.

The morning session attended by the Zimbabwean delegation led by Prime Minister Morgan Tsvangirai acknowledged the importance of the Zimbabwe’s Indigenisation and Economic Empowerment programme.

In a telephone interview, Youth, Indigenisation and Empowerment Minister, Cde Saviour Kasukuwere who is attending the forum in South Africa said the meeting agreed that Africa’s economic development will be hinged on the performance of the mining sector, hence the need for indigenous people to be in total control of their mineral resources.

Cde Kasukuwere said: “We had a fruitful discussion this morning and tackled issues to do with the mining sector in Africa and the indigenisation programme in Zimbabwe.

‘The participants agreed that it should not be delayed any further as locals should be in total control of their natural resources.”

 

On the country’s external debt which currently stands at US$7,1 billion, Cde Kasukuwere said the participants acknowledged that the sanctions induced economic challenges are hindering efforts by the country to meet its international financial obligations, though it has the capacity to pay.

The 21st World Economic Forum on Africa began in South Africa on Wednesday and this Thursday’s morning special session was committed to discussing Zimbabwe’s political, social and economic environment and its potential for growth following years of economic recession.

The summit is also focusing on the need for Africa to consolidate current growth and pursue innovative strategies for sustainable development.

At least 900 delegates from 60 countries are attending the three-day conference running under the theme ‘Vision to Action, Africa’s Next Chapter’.