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Zimbabwe Technocrats Meet to Decide Impala Holdings Fate

  • Gibbs Dube

The government wants Impala to transfer a majority stake in its local operation, Zimbabwe Platinum Holdings, to indigenous people under the controversial indigenization program

Zimbabwe’s technocrats in the indigenization and mines ministries met Tuesday in Harare to decide the fate of South Africa’s Impala Platinum Holdings which was given up to Wednesday by the government to present detailed plans of transferring majority shares to local people or risk losing its assets to the state.

Indigenization Ministry Legal adviser Psychology Maziwisa told VOA that the technocrats, George Magosvogwe and Prince Mupazvirihwo are now expected to brief their respective ministers about the outcome of the meeting.

Maziwisa could not reveal the strategic decisions made by the two saying Indigenization Minister Saviour Kasukuwere will shed light on Wednesday.

The government wants Impala to transfer a majority stake in its local operation, Zimbabwe Platinum Holdings, to indigenous people under the controversial indigenization program.

The company has so far offered 5 percent to workers, about 7 percent to a state sovereign fund and 10 percent to local communities. It plans to make up the balance through empowerment credits.

Deputy Mines Minister Gift Chimanikire said Kasukuwere, who recently called Prime Minister Morgan Tsvangirai a loose cannon for dismissing the current indigenization program, should stop bullying Impala Platinum Holdings.

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