Category: Indigenisation (archives)

Zim prepares law to seize company stakes without paying http://www.moneyweb.co.za/ Bloomberg|22 April 2013 14:18 Zimbabwe’s government is preparing a law that would allow it to seize controlling stakes in companies without compensation, according to a draft of the legislation obtained by Bloomberg News. The law would be an amendment to a 2007 act that compels foreign and white-owned …

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Zim: Minister loses patience with ‘defiant’ Tongaat Hulett http://mg.co.za/ 20 APR 2013 13:12 – RAY NDLOVU Saviour Kasukuwere, indigenisation and empowerment minister, has turned up the heat on sugar grower Tongaat Hulett over its Hippo Valley unit. Tongaat Hulett  is listed on the Zimbabwe Stock Exchange. The Zimbabwe unit contributed 19% to Tongaat Hulett’s total interim …

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Mugabe blasts war veterans http://www.theindependent.co.zw/ March 8, 2013 in Politics PRESIDENT Robert Mugabe last week took a swipe at war veterans for belittling his indigenisation calls by fronting for white business people in mining and farming activities in the country. Staff Writer Addressing thousands of Zanu PF supporters who thronged Chipadze Stadium in Bindura to celebrate his 89th …

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Paper exposes Indigenisation scandal http://nehandaradio.com on February 15, 2013 at 9:20 am By Farai Mutsaka, Gift Phiri and Eric Chiriga HARARE – Zimbabwe’s indigenisation drive has turned out to be a massive cash cow for well-heeled and politically-connected elites, as details of massive misrepresentation and grand looting for deal makers emerge. Savior Kasukuwere and Dave Brown from …

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Another look at the indigenisation legislation – an analysis by N.M.Willsmer   http://www.sokwanele.com/thisiszimbabwe   FEB 12, 2013 John Robertson, a Zimbabwe based econonomist, has circulated an analysis of the Indigenisation and Economic Empowerment Act by Mr Willsmer, a Harare lawyer: Frequent suggestions have been made that the Indigenisation and Economic Empowerment Act is so poorly …

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‘Empowerment a hoax’ http://www.dailynews.co.zw Tuesday, 29 January 2013 11:19 BULAWAYO – Combative Bulawayo youths heckled Indigenisation minister Saviour Kasukuwere on accusations of making empty promises that his ministry would finance their projects. There was pandemonium particularly from the Zanu PF youths who demanded precise answers from the minister they call “Big Brother”, forcing him to enlist support from a …

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Implats Zimbabwe deal in balance Sunday Independent, January 14, 2013 By Peta Thornycroft The decision by South Africa’s Implats on Friday to sell a majority of its Zimbabwe platinum assets to Zimbabwe comes with many strings attached.The deal would not go ahead until the Zimbabwe government settled its R1 billion debt for land it bought from Implats …

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‘Indigenisation law will not be amended’ http://www.thezimbabwemail.com Staff Reporter 3 hours 37 minutes ago INDIGENISATION and Economic Empowerment minister Saviour Kasukurewere has vowed not to amend the country’s controversial indigenisation laws, threatening to take stern action against foreign-owned banks which are yet to comply with Zimbabwe’s equity laws.Addressing guests at the signing ceremony for the terms agreement between the …

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US$1bn Zimplats windfall for NIEEF http://www.theindependent.co.zw/ January 11, 2013 in Business THE National Indigenisation and Economic Empowerment Fund (NIEEF) has received a US$1 billion windfall following the conclusion of an empowerment transaction expected to be signed in the capital soon. Report by Clive Mphambela Well-placed sources told businessdigest this week platinum giant –– Zimplats –– has finally resolved …

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New youth quota system for companies http://www.theindependent.co.zw/ January 11, 2013 in News INDIGENISATION minister Saviour Kasukuwere says companies would soon be required to have a 25% youth representation of those under 35 years on their boards of directors in line with the Indigenisation and Economic Empowerment Act. Report by Taurai Mangudhla This follows a 2012 cabinet decision to …

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