Zimpapers Logo

programme, youths in Binga district seem not to understand what the policy is all about.
The Indigenisation and Economic Empowerment Act was promulgated to address economic disparities that existed in the country since 1980 when Zimbabwe attained independence.
The law stipulates that indigenous people should own 51 percent of shareholding in foreign owned companies whose net turnover exceeds $500 000.
As part of the implementation plan, Government has already requested foreign owned firms operating in the country to submit their shareholding structures while efforts have also been made on initiating employee share ownership schemes countrywide.
In terms of the Indigenisation and Economic Empowerment Act, firms are required to set aside a five percent stake for ordinary workers and three percent for management.
A snap survey carried out by Business Chronicle at Binga Business Centre recently, showed that youths in the district were ignorant of the Act and their participation in the programme.

“I cannot explain what the programme is all about. I have never had the opportunity to get an insight into it,” said Mr Shupai Muchimba (25).
When this news crew explained to the youth what the programme was all about, he said: “Given the opportunity I would want to participate in the programme through venturing into fishery projects.”
Binga district is famous for fishery projects and crocodile farming.
In recent years, local people in the area have been empowered through the Community Areas Management Programme For Indigenous Resources programme to venture into crocodile farming.
However, because of costs incurred in running the projects, Binga Crocodile Farm managing director Mr John English said local farmers had withdrawn from investing in such projects.
Mr Oliver Muzamba (21) also confessed ignorance of the Indigenisation and Economic Empowerment law.

He said it was imperative for the relevant Government Ministry to organise a forum through which the youths in the district could get acquainted with the law and how it was being implemented.
He said it was noble to involve the youths in economic empowerment programmes as they were the custodians of the resources in future.
“It is important for Government to come and explain the Act and how it is being implemented so that as youths we get to understand how we can participate in the programme,” he said, adding that youths in the district had the potential to participate in economic development but their efforts were being derailed by lack of financial resources and knowledge to venture into various sectors.

He said as the Indigenisation and Economic  Empowerment programme was being rolled out, it was key for Government to unveil working capital to local entrepreneurs.
“As youths we can be economically empowered by forming fishing co-operatives. However, the major constraints are that we don’t have capital to run such initiatives.”
He said few individuals in the districts had formed fishing co-operatives.
Miss Lambiwe Mwembe (20) said she had no clue about the programme.
“I have no clue about the programme.” She said.
However, Mr Come Mudimba (30) said he had read about Indigenisation and Economic Empowerment programme in the press but was not aware of how the youths could participate in the initiative.

Binga district in Matabeleland North province is endowed with vast untapped resources, which the locals could exploit.
And because the majestic Zambezi River is also found in Binga, this makes the district suitable for other key projects such as tourism, irrigation, and safari operations as well as mining projects considering that the area is endowed with coal deposits.
The visit to Binga has also shown that some of the areas that have the potential to promote tourism growth and development in the country were being neglected.
For example, the hot spring near Binga Rest Camp has not been well protected by authorities from the department of Zimbabwe Parks and Wildlife Management Authority. The Chronicle