chapfika 06-12-10.jpgThe National Indigenisation and Economic Empowerment Board (NIEEB) says the Zimbabwean economy is losing a lot of cash through unregulated outflows by foreign business people operating locally.

Zimbabweans will not enjoy the fruits of their economy if the amount of cash which is going out of the country is not regulated.

NIEEB Chairperson, Mr David Chapfika told ZBC News that most foreign business people operating locally, import goods into the country and after selling those goods repatriate the profits back to their original countries.

He said the present scenario thus impacts negatively on the local economy hence the need for government to put strong control mechanisms on cash being taken out of the country.

Zimbabwe enacted the Indigenisation and Economic Empowerment Act to enable the previously marginalised indigenous black Zimbabweans to participate fully in the running of their economy.