The investment businesses tasked with improving the standard of living for war veterans are experiencing teething troubles while waiting for assets to be transferred from the Ministry of Mines and Mining Development.
The Minister of War Veterans of the Liberation Struggle Affairs, Monica Mavhunga, stated that the Veterans of the Liberation Struggle Board manages two companies with assets donated to war veterans, including mines, farms, and tourist attractions.
These two companies, Power Zimbabwe and Veterans Investment Corporation, are facing initial challenges.
“Our War Veterans Act (Chapter 17:12) allows us to have a Veterans Liberation Board that oversees all funds directed to help the war veterans. This board is expected to uplift the lives of war veterans and seek additional funding because government funds are insufficient. The board established companies with assets donated to war veterans, such as mines, farms, and tourist attractions. We have two companies in place: Power Zimbabwe and Veterans Investment Corporation. We haven’t provided updates because we were finding our feet,” said Mavhunga.
“We will update you on the progress, but the companies are operational and are meant to help the war veterans. All these will be under the Veterans Liberation Board.”
War veterans across the country are supposed to benefit from the proceeds of these investment companies.
Last month in Bulawayo, the Minister of Finance and Economic Development, Professor Mthuli Ncube, said the government was working on concluding the transfer of assets, which at a national level will provide additional income to support the Ministry of Veterans of the Liberation Struggle.
At the time, the finance minister mentioned that some of these assets include 21 gold claims spread across the country and at least six farms that will be transferred to the Veterans of the Liberation Struggle Fund and the Board to ensure proper management and hunting concessions.
Nonetheless, the Minister of War Veterans said these companies are now operational and have signed performance contracts.
“These companies have started working. I think you heard from the news when they were signing performance contracts, and we asked them to come up with strategic plans. So the companies have started working, but what remains is the transfer of assets from the Ministry of Mines and Mining Development into their hands,” Mavhunga said.
Mavhunga noted that her ministry had engaged the Ministry of Mines to ensure their papers were in order, enabling investors to come in and invest.
“Regarding farms, we have plans for them to develop five-year business plans so that each farm can secure loans and start businesses,” said Mavhunga.
“So, I can confidently say that the work has commenced, but it still has its teething problems and is a work in progress.”
