The Act, which requires foreign-owned companies to give up 51 percent share-holding to indigenous black Zimbabweans, has already hurt the Zimbabwe Stock Exchange with investors holding back their investments until the Act has been repealed.
Gono has publicly condenmed the the law which he said will scare off investors at a time when Zimbabwe needs money to revive its economy.
On Sunday, Gono said he was not opposed to the Act but was worried by the way it was going to be implemented. “We have people who have had access to land and they have not had an excellent result and we are saying that action should not be repeated. We are also sounding a warning bell to the government that please be on the lookout of those who want to be greedy, those who want to use connections to get into these factories…”.
President Robert Mugabe has described those who are anti the law as backwards and suffering from a colonial mentality.
Kasukuwere responded: “Those who are opposed the to the Act must go and die. We have no reverse gear in our gear box. Journalists please emphasize that Kasukuwere has said 50% in the country’s minerals are for us. If there is an insane Zimbabwean who is opposed to that he must go and die.”.
Controversial African National Congress (ANC) youth league president Julius Malema who was on a four day visit to Zimbabwe on a familiarisation tour, at the invitation of his Zanu PF counterparts, visited Gono’s New Donnington Farm in Norton where his delegation were shown around.
The controversial ANC leader was supposed to be shown around farms belonging to newly resettled farmers but due to the fact that most of the farms are derelict, he was rushed to the more productive Gono farm.
The farm is not a product of the violent and chaotic land reform programme as he bought it from a former white commercial farmer.
After the tour of the farm Malema, Gono and Kasukuwere addressed the Zanu PF youths on the troubled indigenisation law.
Malema defended Gono saying: “It must not be an empowerment of cronies and those who are close to the corridors of power. It must be real broad based empowerment of ordinary people. Indigenisation does not mean Zanu PF members only – it means Zimbabweans.
“No matter how politically or reactionary they may be, if they are bringing in the necessary skills that will help grow the economy let’s bring them in. We have got a responsibility to think beyond our political affiliations when building a strong economy.
“People should not manipulate the law for self enrichment. The law is not designed for particular persons but everybody. It’s not going to be an easy road so people have to be strong,” said Malema.
“It is the governor who must balance the confidence of the people and the investors. You will fight with him many times because he seeks to balance things,” said Malema.
However Gono and Kusukuwere took some time to mend their public fallout and both claimed that they were still working well together despite publicly attacking each other in the local media over the indigenisation law.
“I have empowered 99 percent of people in Zanu PF and those outside so I cannot be said to be opposed to indigenisation. I only have a different opinion on implementation. I say no to violence and no to forceful takeovers. My view is also that those who have benefited before must not join the queue this time around,” said Gono.
“Noble and well meaning socio-economic programmes can be tainted and blurred through skewed implementation strategies or inappropriate projections of those programmes in ways that swell general apprehensions, mistrust and uncertainty among investor community, locally, regional and internationally.
“The chosen empowerment vehicle and its implementation methodology must benefit the preponderance of society as opposed to benefitting a select few proverbial angels.
“Quite clearly, therefore, it is my heartfelt contention that whilst it is perfectly agreed that empowerment of the people is a necessary and long delayed policy objective, its implementation must be done in a well thought out and orderly manner,” said Gono.
Kasukuwere went on to shower praises on Gono saying he had been empowered by the RBZ governor while he was still at the helm of the Commercial Bank of Zimbabwe (CBZ).
“We are not fighting with the governor, we are working together. The governor has some of the best brains in the country which we are now tapping into. We might differ a little on implementation but the programme will go ahead,” said Kasukuwere.