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Zanu PF Vows 'Unique Wealth Transfer'

  • Ntungamili Nkomo

Buoyed by its recent electoral landslide, Zanu PF vowed on Tuesday to press ahead with its polarizing indigenization program and transfer the economy into the hands of ordinary people in the next five years.

In a full-page advert carried by state newspapers, the party said its victory was an endorsement of its black economic empowerment policies by the people of Zimbabwe.

By voting Zanu PF, the party said, Zimbabweans had given President Robert Mugabe a clear mandate to transform the economy through the empowerment drive that compels foreign companies to cede a 51 percent stake.

"The people of Zimbabwe have given President Robert Mugabe and Zanu PF a clear mandate to transform the economy through indigenization and economic empowerment," the party said.

"Over the next five years, Zimbabwe is going to witness a unique wealth transfer model that will see ordinary people take charge of the economy."

Zanu PF deputy information director, Psychology Maziwisa, added that his party's government, which will assume office in the next few days, will purse black empowerment vigorously.

"We are going to intensify the indigenization program for the purposes of making sure that we create employment, stabilize the economy, build houses and resuscitate industries," Maziwisa said.

​Economic commentators argue however, that Zanu PF's black empowerment drive is poorly-fashioned, and caution that it may destroy the economy rather than improve it.

They say the push will only alienate foreign investors and slow down the economy.

"It's not going to be succesful because for the past 33 years they have been talking about the same thing," said economic analyst, Rejoice Ngwenya.

"If their model of economic revival is based of violations of property rights and further expropriations of private land, it is difficult to see how the transformation can be projected forward."
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