Fin24

Zim minister slams PnP deal

2012-11-29 14:50

Harare - Zimbabwe's Justice Minister Patrick Chinamasa has castigated FDI deals that are not directed into value adding sectors singling out the Meikles/Pick n Pay deal in particular.

Speaking at the opening of a two-day Economic Empowerment Conference 2012 on Wednesday, Chinamasa said there was no need to applaud foreign direct investment (FDI) in the retail sector as there was no value add to the sector and as such the sector should be legally reserved for local players.

Referring to the Pick n Pay Stores [JSE:PIK] deal, the minister said, “99% of the retailer’s merchandise is South African imports so the company is implementing South African export policy”.

He said some sectors of the economy such as ginning, distribution and fuel importation should be reserved for the locals, adding FDI should address priority areas for mutual benefit.

Pick n Pay this year opened its first supermarket in Kamfinsa‚ Zimbabwe. 

The supermarket‚ the first Pick n Pay-branded store to open in Zimbabwe since it took control of 49% of TM Supermarkets‚ is situated in the Kamfinsa shopping centre in eastern Harare.

The store comprises a Pick n Pay Supermarket‚ as well as stand-alone Pick n Pay Liquor and Clothing stores. 

A number of Pick n Pay branches are planned to be opened this year‚ many of them at sites where TM Supermarkets have been operating.

 - Fin24

 

Comments
  • george.michaelides.71 - 2012-11-29 16:03

    Dont open....Let them Starve.....

      ndlovu.norman - 2012-11-29 17:55

      U r stil living in the stone age, where u think people in zimbabwe stil live in trees. Things have changed

      isaac.tapfumaneyi.5 - 2012-11-29 20:40

      guess what?they have already opened and are opening more stores.so get over your ignorant self full

      gideon.groenewald.9 - 2012-11-30 11:29

      I welcome the PnP into Zim, as it creates some competition to the monopolised industry, ran by Spar. I do however agree with the minister, that most of the stores in Zim is filled with SA brands. This results in higher product cost, whereas products could have been imported from other corners from the world more cheaper. It is unfortunate that production in Zim is basically non existing and with current policies in place, foreign investors is doubtful to invest. Local Zimbabweans does not have the capital recourses to start their own businesses of commercial scale.

  • Daniel Mah - 2012-11-29 16:13

    ok lets pull out - ungrateful bastards

      ndlovu.norman - 2012-11-29 17:59

      Business does not work on emotions daniel. Pnp knows why they want to open in zimbabwe and i bet you, they wil open. Do u know why? Because of the currency daniel.

      isaac.tapfumaneyi.5 - 2012-11-29 20:43

      they will not pull out leaving the us dollar so get lost full

  • simon.mwando - 2012-11-29 18:30

    Some uninformed bastards still think things are just the same as it was in2008! We dnt nid PnP in Zim u morons!

      Adrian Rouget - 2014-08-21 15:35

      Who's "we?" You and your five friends who commented on this article?

      Adrian Rouget - 2014-08-21 15:37

      You know what a bastard is? Probably not. You must be gutted your parents gave you a whitey name.

  • ndlovu.norman - 2012-11-29 18:50

    Zimbabwe does not need pnp but pnp needs zimbabwe. Its time the imperialists stop looking down on zim

      gideon.groenewald.9 - 2012-11-30 11:36

      Norman, I think Zim does need pnp...currently the food retail sector is ran by Spar, which leaves them with no competition. This allows Spar to determine prices and not leave it to market demand. All the sectors in Zim is heavenly monopolised and I think any new entrants into the market shows n sustaining, growing market. Ignore the comments from the ignorant South Africans, for most of them have never travelled beyond the borders of SA

      Adrian Rouget - 2014-08-21 15:39

      Maybe Zimbabwe doesn't need PnP but Zimbabwe wants PnP. Then Zimmos don't have to shop in fly-infested, dirty shops where the few goodies on the shelves are layered with inches of dust.

      Adrian Rouget - 2014-08-21 15:40

      Another Zimbabwean with a whitey name. You are probably also very p*ssed off at your parents for giving you an imperialist name. Why don't you change it so you are "pure" Zimbabwean?

  • isaac.tapfumaneyi.5 - 2012-11-29 20:48

    pick n pay will not leave zimbabwe coz of the dollar, thats why they are opening more stores here.they are now making more money in zim than bots and namibia combined thats why they are expensive

  • mnmwale - 2012-11-30 09:30

    I don't like Zimbabwe's Justice minister, Patrick Chinamasa because of the ethnic cleansing Act he personally spearheaded and which led to my being one of its victims. I am preparing to sue him and all those Zimbabwean Parliamentarians who voted for the Act. However, on this issue of Pick and Pay I do agree with him one hundred percent.

  • dumi.zulu.31 - 2012-11-30 11:29

    Agreed minister. Shalow minded people don't see your point of view.

  • fvjsmith - 2012-12-02 10:57

    If politicians stick to business and let business determine how they operate then perhaps the economics in a country will flourish.There are enough laws in Zimbabwe to protect people and if they don't want to work for a certain sum of money nobody compels them to.That's your choice.You are the creator of your own heaven or hell.Too many people do not live out their dreams, that's why they have so many nightmares.There are too many wheelbarrow mentality people in Zimbabwe...you must pick them up and push them to their next destination. Self-motivation will take you much further on your own initiative. Wake up Zimbabweans ! Mugabe is not your saviour...maybe your freedom-fighter but definitely not your "Father Xmas".

  • Adrian Rouget - 2014-08-21 15:26

    OK, so don't operate the shops then. All the Zimbabweans who got jobs in PnP can then go jobless again.

  • Adrian Rouget - 2014-08-21 15:27

    Next, don't import fuel and distribute it. Import crude oil and refine it into fuel and fuel oil (diesel, for those who don't know what fuel oil is) and other incidental products.

  • Adrian Rouget - 2014-08-21 15:31

    I no longer go tiger fishing in Zimbabwe. You can't find any supplies, no fuel, excessive launch fees, food supplies are seriously limited, you have to take a local with you on the boat (who wants a local ogling your wife when she's having a tan in the sun?). So Zim lost all the revenue from my regular visits. And how many others? I now fish the Zambezi from the Zambian side.

  • Adrian Rouget - 2014-08-21 15:32

    PnP prices in Zim must be high to cover the cost of transporting their supplies to site as well as the cost of stock theft by the Zimbabweans employees working in PnP store.

  • Adrian Rouget - 2014-08-21 15:34

    All the high-poligh in Zim will shop at PnP (government people, defense force people and Bob's buddies in business). They don't care about the people on the ground - the people complaining about PnP now operating in Zim.

  • Adrian Rouget - 2014-08-21 15:42

    So what? Dear Patrick perhaps wants South Africa to implement Zimbabwean import policy. He is just upset PnP didn't offer him a free localisation share so he can get rich without doing anything.

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