miners 2 11-10-10.jpgGovernment is set to launch the Employee and Management Share Ownership Schemes on the first of next month under the second phase of the implementation of the Indigenisation and Economic Empowerment Act.

The launch will start with four firms that have indicated their readiness to roll out the framework.

Briefing journalists on the progress made so far in the implementation of the Act, Minister of Youth Development, Indigenisation and Empowerment, Cde Saviour Kasukuwere said the Employee and Management Share Ownership Scheme is critical towards achieving broad-based empowerment.

Under this scheme, foreign-owned firms will dispose 5% shares to workers, paving way for employees to become part of the ownership of a business venture.

Government also plans to launch the Community Share Ownership Trusts for Marange community, Hwange Colliery and Mimosa in the next few weeks following the successful launch of the trust in Mhondoro-Ngezi last week.