Speaking at public lecture at the Midlands State University titled “Demystifying Indeginisation” Mandiwanzira said as AAG they are against those that are stepping on each others toes in a bid to get acontrolling stake.
“We ask these people that we have been reading about to back off. Zimplats is a big company that can not be taken by an individual. We are saying every Zimbabwean should benefit from such big profit making companies therefore every one should get the shares instead of one person.”
Mandiwanzira also said it was untrue that the Indeginisation Act was scaring away investors.
“Those that claim the act is scaring investors away are lying. How can they be scared aware by a law ? They want platinum, gold and other things that we have so they will still come to invest because we have what they want. Bill Gates who is said to be the richest person only owns 12% of Microsoft yet our law offers the foreigners 49%,” he explained.
He added that Zimbabwe can not be compared to other countries on the Act as other countries do not need it because they do not have the natural resources that foreigners badly need to exploit.
Mandiwanzira also said, “If you go to the Ministry of mines you will find long queues of foreigners who want to invest in mining so it means investors are coming.”
On the issue of whether the act will empower everyone, Mandiwanzira said it is not possible for everyone to benefit on the 51% issue.
“There is no democracy in business , to be able to get into business, you need to be clever and wise, possess the ability to work very hard, to be strong such that you are able to rise again if you fall. There is no democracy in business because it’s highly competitive thereby it’s individualistic in nature.
“We shall not lie to people that everyone will benefit from the 51% policy because there is indeginisation, it is only the clever ones that are near the opportunities and have the knowledge of the companies that will benefit.”
Mandiwanzira claimed that except for the Prime Minister Morgan Tsvangirai, all other coalition partners acknowledge that the Indeginisation Act is a good policy.
He warned, “The PM is in the minority and this can cost him votes because his supporters are eager to benefit from the Act.”