PRESIDENT Emmerson Mnangagwa’s government has approved the operationalisation of the Veterans of the Liberation Struggle Act (VLSA), thus paving the way for war veterans’s desire to return to big-time business.
The development comes as The Financial Gazette has recently reported that the “special interest” group was on the cusp of launching its own bank, investing in mines and other ventures under a six-tier group, although critics say this might benefit top officials and elites only.
“The veterans… investment fund will then become the sole shareholder in each of the investee companies that will be set up to own and operate businesses in each key sector of the economy,” read a white paper seen by this publication about two weeks ago, adding “each investee company will have its own board of directors and chief executive officers constituted by war veterans”.
“…investee companies will be capitalised in part through the donations of assets that will be made by the government into the investment fund,” i
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