chapfika 06-12-10.jpgThe National Indigenisation and Economic Empowerment Board says the US$5 million allocated for indigenisation in the budget  by Finance Minister Tendai Biti does not even cover the Board’s operational costs, let alone the empowerment process.

 

The indigenisation Board says the Economic Empowerment Fund, which was set up to assist indigenous Zimbabwean raise capital for acquiring shares in foreign owned companies, has inadequate funds to kick-start the indigenisation drive.

“The money we were given is inadequate. It can not even cover our operation costs. Now we appeal to the Minister to fast track the statutory instruments so that we mobilise resources from the market, such as levying the cooperate sector,” said Cde Chapfika.

The indigenisation and economic empowerment drive is meant to empower indigenous Zimbabweans to participate and derive benefits form their own economy.

Despite some misconceptions that the policy scares away investors, the same investors have been enquiring on new investment opportunities.