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IMF Team to Meet With Zimbabwe Indigenization Minister Kasukuwere

IMF officials are said to be concerned about Zimbabwe's indigenization initiative, which economists and political analysts say has put a damper on desperately needed foreign direct investment

An International Monetary Fund mission that arrived in Zimbabwe this week is expected to meet with Indigenization Minister Saviour Kasukuwere for an update on the nation’s controversial program for black economic empowerment.

Sources said the delegation, which as of Friday had met with Treasury and other officials to consider broad economic issues, is concerned about the indigenization program, which has been blamed for discouraging crucial foreign direct investment.

The sources said Kasukuwere is ready to meet the IMF team to spell out Zimbabwe’s indigenization program targeting foreign-owned companies in particular.

They said the meeting could set the tone for the IMF team’s findings when it concludes its so-called Article IV consultation mission on March 30.

Economic commentator Rejoice Ngwenya said Kasukuwere must assure the IMF team that Zimbabwe will not seize foreign-owned companies under indigenization.