|Retail sector indigenisation saga rages|
|Tuesday, 10 July 2012 18:44|
Zimbabwe Entrepreneurs Youth Action group (ZEYA) says corrupt foreigners are stalling progress in the implementation of the indigenisation and economic empowerment programme in the retail sector.
As the debate on the takeover of the retail sector rages on, ZEYA has branded the other competing partners corrupt, a move that will set the tone for the takeover of the retail sector which has been reserved for indigenous people under the Indigenisation and Economic Empowerment Act.
The group conducted research on the goings-on in the retail sector for the past three months and is currently compiling the document which will be presented to the relevant ministry for consideration.
In an interview, ZEYA President, Mr Munyaradzi Kashambe said the state of the retail sector is deplorable as locals are being pushed out of the office space by corrupt foreigners hence the need for government to intervene through a statutory instrument that compels foreigners to vacate with immediate effect for locals to benefit.
“The research we carried out shows that foreigners are employing corrupt initiatives to muscle out indigenous business people who are financially crippled. Most locals cannot afford the rentals charged by property owners, as some of them charge over US$1 000, which can get to US$3 000 through a goodwill fee,” said Mr Kashambe.
The indigenisation process has yielded results in the mining sector with several community share ownership trusts having been launched while employees have benefitted through the employee share ownership schemes.
Under the indigenisation and economic empowerment law, government reserved low capital businesses to locals including the retail sector, agro-processing and hair salons.