Mavambo blasts Zanu PF nationalisation plans

HARARE – The party led by form Finance Minister Dr Simba Makoni, Mavambo Kusile Dawn (MKD) has condemned Robert Mugabe’s Zanu PF 11th Conference resolution to counter sanctions, describing it as shocking and disturbing.

In a statement to The Zimbabwe Mail, Mavambo Kusile Dawn (MKD) said it is concerned by a resolution passed by Zanu PF at its 11th Conference in Mutare where the party is going to adopt counter measures against companies from countries seen as instigating sanctions against the country.

Zanu PF gave warning to Western companies Rio Tinto, Anglo America saying they will hit back (avenge) for the sanctions, and threatened with nationalisation.

The statement said, "what is shocking and disturbing is that this resolution came at a time when our beloved country is desperately in need of credit lines and foreign direct investments (FDI) in order to get this country working again.

"It is against this background that, MKD and other progressive forces are very concerned with such utterances because it won’t get this country working again.

This is the time when the country requires domestic and foreign investment and that can only happen if we promote and protect these and move out of the current economic doldrums.

Avenging in whatever manner or method is misplaced and the truth is we live in a global village where there is interdependence and complimentary in business.

"Zimbabwe could be disengaging by trying to avenge on the said companies and would not benefit from the movement of investment globally.

Nationalisation of foreign companies, institutions and entities will not result in the lifting of sanctions, but instead this might worsen the situation.

If ZANU-PF really wants the sanctions to be lifted it must make sure that they reform and they must engage those countries in dialogue. It is also important to make sure that they remove the conditions which attracted the sanctions, human rights abuse and respect for private

MKD is very sceptical about this issue of counter measures against foreign companies because of late we have seen many companies being taken over by the Chinese especially in the retail sector.

"MKD strongly feel that this country must produce; in that regard we feel that we should encourage investment especially in the agriculture and manufacturing.

In many countries the retail sector is usually reserved for locals, but here you wonder the logic why these Chinese and Nigerians are being allowed to dominate in this country which has been on record of talking about indigenisation.

"To make matters worse it is also very surprising to note that the treatment accorded to these foreigners is very high as compared to the locals," the party said.