Be smart on indigenisation, ECA boss tells Zim

Zimbabwe has to adopt smart ways in achieving economic nationalism instead of doing it crudely, as that will have serious implications on the economy, UN under secretary-general and Economic Commission for Africa (ECA) executive secretary Carlos Lopes has said.

Lopes told NewsDay on the sidelines of a conference of ministers meeting on Saturday that only a smart way would remove the perception of protectionism.

This came after Zimbabwe’s Youth Development, Indigenisation and Economic Empowerment minister Patrick Zhuwao gave foreign companies including banks up to April 1 to present their indigenisation compliance plans or face a forced shut down.

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