Economic Empowerment Board Admits Flouting Tender Procedures

The National Indigenisation and Economic Empowerment Board (NIEEB) has admitted flouting tender procedures by appointing Brainworks Capital as the financial advisor in the indigenisation and economic empowerment transactions without going to tender.

ZBC News reports that NIEEB officials appeared before the Parliamentary Portfolio Committee on Youth, Indigenisation and Economic Empowerment chaired by Gokwe-Nembudziya legislator Justice Mayor Wadyajena, which sought clarity on what transpired during the transactions of the indigenisation process by mining companies across the country.

Wadyewata has distinguished himself as one of the fiercest critics of the various empowerment transactions that were made between government  and various foreign owned companies in 2013 as government sought to involve previously marginalised groups in the mainstream economy.The young charismatic politician had initially wanted the former minister in charge Saviour Kasukuwere to come and account to his committee until the Speaker Jacon Mudenda said it is not possible for Kasukuwere to come and answer questions pertaining to his former ministry.

Different views emerged from various stakeholders involved in the programme.

NIEEB CEO, Wilson Gwatiringa admitted that Brainworks Capital was chosen without going to tender.

Legislators questioned how the board met the executives of the financial advisory firm in which Mr Gwatiringa indicated that Brainworks was introduced to them by officials in the Ministry of Youth, Indigenisation and Economic Empowerment.

The implementation of the indigenisation and economic empowerment programme has been stalled, owing to different views from stakeholders regarding their roles in the development of community share ownership trusts.

Officials from mining companies, the ministry, the financial advisory company and administrators of the community share ownership trusts have also appeared before the same portfolio committee giving conflicting statements.