Home » Governance » Most Zimbabweans Against Indigenisation, Survey Suggests

ZIMBABWEANS say the government should reconsider its indigenisation policy and promote foreign direct investment if it is serious about job creation, a report released by Mass Public Opinion on Wednesday has indicated.

According to the survey which was conducted by MPOI on behalf of AfroBarometer, 72% of a random sample of 2,400 Zimbabweans disapproved the indigenisation law.

Most said foreign investment promotion was the only solution to the unemployment problem bedevilling the country.

The research was done from 16th to 29th November last year and availed to stakeholders in Harare Wednesday.

“An overwhelming majority (72%) subscribe to the sentiment that foreign direct investment was the way to go in terms of rejuvenating the country’s economy.

“The result of the survey also showed that support for foreign direct investment is high among both male and female respondents as there was only a three percentage point difference between the males (73%) and the females (70%) who prefer foreign investment to indigenization,” the report noted.

With a staggering 80% plus unemployment rate, Zimbabwe continues to lose investors because of its unclear business and economic policies.

Potential investors and multilateral lending institutions including the International Monetary Fund, have also asked government to revise the black empowerment laws which give majority shareholding to locals in foreign business deals.

The indigenisation laws have not only divided politicians, economists and business people, but also the ruling Zanu PF government ministers.

“The province which recorded the highest number of respondents in support of foreign investment was Bulawayo (93%) followed by Harare (83%) endorsing foreign investment over indigenization,” said the report.

Source : New Zimbabwe