Indigenisation – Defiant firms face prosecution
2010 07 02 –
The Herald
2010 07 02
http://www.herald.co.zw/inside.aspx?sectid=20756&cat=1
Herald Reporter
Companies and businesspersons that failed to comply with Indigenisation and Economic Empowerment Regulations decreeing that they submit proposals on how they intend to comply with the law face prosecution.
Those found in contravention with the law will either face jail time, fines or both.
In an interview yesterday, the legal advisor in the Ministry of Youth, Indigenisation and Economic Empowerment, Mrs Theresa Chifamba, said Government will ensure everyone gets the relevant forms and submit them or be taken to court.
The deadline was June 30, 2010 after it was twice extended. In a separate interview, Indigenisation Minister Saviour Kasukuwere said the law must be complied with.
He said over 600 companies, including big manufacturing and mining houses, had submitted their proposals.
“The law is very clear and those who did not comply would be prosecuted because they must be aware that they are in breach of the law,” he said
The minister urged all companies that had not yet communicated with his offices to do so because the deadline would not be further extended. Mrs Chifamba also added that some companies had for individually asked for deadline extensions and these had been granted.