Mugabe Launches Community Trust, Critics Say Its Electioneering

In the trust, Unki will transfer 10% ownership to the community in the first step towards complying with the Indigenisation and Empowerment Act which says that 51% of all foreign owned companies operating in
Zimbabwe should be in the hands of locals.

Unki mines platinum along the Great Dyke and is owned by AngloAmerican.

The launch of the trust follows a similar initiative by platinum miner Zimplats when it offered 10% to the Mhondoro—Ngezi community.

Youth Development, Indigenisation and Empowerment Minister confirmed Wednesday function.

“We will be proceeding to Shurugwi, Midlands in the morning to launch Unki Tongogara Community Share Trust scheme. President Mugabe will officiate as we achieve another milestone in the empowerment drive,”
Kasukuwere said.

“We are happy that we have received maximum cooperation from the Anglo team and the entire leadership of the Midlands and Shurugwi chiefs in particular.”

Since government gazetted the regulations governing the empowerment legislation last year, there has been concern that the programme will scare away investment needed to rebuild the economy.

This  concern has fallen on deaf ears.

Kasukuwere recently said that the empowerment programme would be underpinned by three areas: setting up the community share ownership trust, employee trusts and the sovereign wealth fund.

Old Mutual and Meikles Limited have already set up employee trusts while other trusts and community share ownership trusts are on the way.