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Community Share Ownership Trust schemes collapse

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THE COMMUNITY Share Ownership Trust schemes launched by President Robert Mugabe last year in various parts of the country failed as most companies did not honour monetary pledges for the programme.

Report by Nduduzo Tshuma

The revelations could spell doom to the party’s election manifesto that is hinged on indigenisation.
According to the Zanu PF manifesto launched by Mugabe last Friday, Community Share Ownership Trust schemes in Matabeleland North and Masvingo, among other areas, have not received a single penny.

Umguza was the only district in Matabeleland North to receive $1 million from Pretoria Portland Cement.

In Hwange, Hwange Colliery Company Limited, Makomo Resources, Chibondo Mines, South Mining had each pledged

$600 000, while Hwange Coal Gasification pledged $500 000.

None of the money has been received.

In Bubi, Duration Gold and Casmyn Mine had each pledged $1 million, but nothing was released.

In Lupane, China Africa Sunlight had pledged $1 million, but no penny was made available.

In Gwanda, PPC had pledged $2 million and only $1 million was handed over, while Blanket Mine had pledged $5 million and only $3 million was given and Jessie Mine gave the $250 000 it had pledged.

In Masvingo, Bikita Minerals and Murowa Diamonds had pledged $500 000 each, while Renco Mine offered $1 million and Lenox Mine $100 000, but nothing was received.

Freda Rebecca in Mashonaland Central did not release any of the $10 million it had pledged.

In Manicaland, Marange, Anjin and Mbada Diamonds had pledged a combined $50 million, but nothing has been received so far by the community.

Other areas that received pledges, but did not receive anything include Uzumba Maramba Pfungwe in Mashonaland, Goromonzi in Mashonaland East and Mabvuku.

The only notable success in the programme was in Shurugwi, Midlands Province where Unki Mine released the $10 million it had pledged. Zimplats, which had pledged $10 million in Mashonaland West, released almost half the amount while in Zvishavane Mimosa pledged $10 million and released $3 million and Murowa released $300 000 of the $500 000 they had pledged.

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