WASHINGTON DC —
A survey by consultancy research firm, New World Wealth, is warning Zimbabwe against pursuing its controversial indigenization policy which it says will sink the southern African country deep into poverty.
In its latest report, the organization says Zimbabweans are among the poorest people in Africa with wealth per person standing at $570. But the country is doing slightly better than Tanzania, Mozambique, Uganda and Ethiopia.
South Africa’s wealth per person is $11,310. Other countries doing well are Namibia and Botswana.
In 2000, Zimbabwe was ranked among the wealthiest African countries. New World Wealth senior economist Andrewa Amoils said Zimbabwe’s wealth will be further eroded if it continues to implement its indigenization programme.
But Indigenization Minister Francis Nhema said the program has to be continued as it empowers ordinary Zimbabweans.
The New World Wealth has offices in South Africa and Great Britain
Economist and founder of Econometer Global Capital, Chris Mugaga said poverty is visible in Zimbabwe.