African empowerment policies compared via LEXAFRICA
The guidelines, which have been approved by Ghana’s government, propose that local participation in the oil and gas sector be increased to 80% by 2020, with the emphasis on sourcing goods locally and training and employing Ghanaians.
Angolans must hold 51% of the share capital in mining and telecommunication companies and 30% in insurance enterprises. In oil and gas, there are no ownership restrictions on operator companies. However, companies that supply the oil industry with certain general services, such as catering, cleaning and transport, must be 51% owned by Angolans
Mkokweza says the current focus of the Zambian government is on a collaborative approach towards foreign investment. This is despite the domestic pressure on it to reintroduce the super tax on mining investors, which policy had been abandoned in the wake of the global recession, when an estimated 10 000 Zambians lost their jobs.
While economic empowerment is a necessity for a continent that for centuries has seen its people discriminated against, repressed and taken advantage of, I believe a balance should be reached to ensure that measures for economic empowerment are practical, such that they have been proven to be genuinely beneficial to the populus, and are not misplaced projections of anger or resentment against foreign corporations and businesses, most of whom provide employment and income to the government via taxes.