basket women.jpgGovernment will ensure that certain sectors, such as the property market and retail business are preserved for indigenous players under the indigenisation and empowerment regulations.

 

As the implementation of the National Empowerment Policy gathers momentum, government has expressed commitment to protecting indigenous traders and small business players in downtown premises, growth points and rural business centers against displacement.

 

This follows the recent outcry from emerging entrepreneurs over unfair practices by landlords. 

 

Minister of Youth Development, Indigenisation and Empowerment Cde Savior Kasukuwere said government will look for empowerment opportunities along the whole value chain across various sectors.

 

“I confirm that as we continue to refine our regulations we will emerge with measures that are sector specific and sector-sensitive as requested by our corporate bodies. Government will bring forward gazetting of sectoral thresholds from the original 12 months to four months,” said Cde Kasukuwere.

 

Minister Kasukuwere noted that the indigenisation law will take a broad- based thrust taking into account the marginalised groups including the youth, the disabled and communities hosting mineral resources.

 

The Indigenisation and Economic Empowerment Act states that existing business with an asset value of US$ 500 000 should have a shareholding structure with at least 51 % of the business owned by indigenous Zimbabweans while foreigners own 49 %.