Abstract
The dearth of studies to establish the line of fit for the indigenisation policy in Zimbabwe and the enactment of the Zimbabwe Democracy and Economic Recovery Act [S.494] [ZIDERA]1 by the United States of America [USA] to challenge the government of Zimbabwe`s land reform and indigenisation policies motivated the production of this paper. Policy makers, members of the public, politicians, new farmers and other influential business pundits in Zimbabwe participated in the study. The study used non-experimental descriptive research design combining the deductive and inductive research approaches to be comprehensive. A desk review of secondary sources such as the indigenization Act [Chapter: 14:33]2, publications, policy guidelines and other relevant material was sought to establish the theoretical proposition. Questionnaires and interviews were the main research instruments. The study findings were that developing countries were getting impoverished whilst developed countries were getting enriched by the way poor states got integrated into the world system. The basis of this result is that poor countries depend on exports of primary products whilst rich nations export processed goods to poor countries at exorbitant prices, thereby deepening the poverty level. This violates the United Nations General Assembly resolution [1803.[xvii]3 which entrenches the Principle of Permanent Sovereignty over Natural Resources.(PPSNR).To correct the imbalance, the study conclusion supports the need to indigenize the economy, but with a policy shift on the modalities in the configuration of the policy framework. The study also recommends the adoption of the Line of Fit theory in which indigenisation policy consideration focuses mainly on product beneficiation than continual exports of primary products. This indigenisation model need to embrace a 360 model which embraces mainly indigenized education systems, indigenized economic models, indigenized financial and management literacy and an indigenized corporate governance policy document for Zimbabweans and the removal of sanctions by the United States of America to give a chance to Zimbabweans to grow the economy to a 100 billion mark by 2030.
Highlights
The injustice of ninety years of colonial rule [1890 to 1980],the penurious situation of the majority of Zimbabweans and the racially skewed colonial laws forced the Government of Zimbabwe to enact the indigenisation policy in the country [Chowa,20134,Murombo,2010]5.In the colonial period, Floyd,[1959:22]6 holds that indigenous people were moved from arable lands by force and by skewed legal systems to give supremacy to White settlers in crop and animal production and access to lucrative markets
The study results show that the majority of Investors [80%] did not support the policy, but the government officials, politicians and the public in general showed greater support for the policy
Norway escaped from poverty after an effective implementation of the indigenisation of oil resources for the benefit of the country,[Stiglitz, 2007]33.It is an abomination of the Act of God for man to fail to benefit from the gift of natural resources [Masengwe, 2008]25,Investors showed lack of support for the indigenisation policy possible due to the implementation of the policy framework
Summary
The injustice of ninety years of colonial rule [1890 to 1980] ,the penurious situation of the majority of Zimbabweans and the racially skewed colonial laws forced the Government of Zimbabwe to enact the indigenisation policy in the country [Chowa,20134,Murombo,2010]5.In the colonial period, Floyd,[1959:22]6 holds that indigenous people were moved from arable lands by force and by skewed legal systems to give supremacy to White settlers in crop and animal production and access to lucrative markets. The majority of black Zimbabweans were disempowered to nullity for a period of ninety years [1890-1980].According to New African Special Report [2013]9, the colonial powers used the following pieces of legislation to disempower the majority black Zimbabweans: Charter of the British South African Company [BSAC]10: The legislation created the legitimate colonization of Zimbabwe and black people in the country lost ownership of the country leading to the beginning of disempowerment.
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