Articles tagged 'empowerment'

I have 10yrs to empower women: ED 9 October 2018 HARARE - President Emmerson Mnangagwa has said he will be in power for 10 years and during that time, he will champion women empowerment and increase the per capita income of the country to over three thousand. Mnangagwa said this at a Professional Women Executives and Business Women's Forum (...
Tsvangirai's MDC to repeal indigenisation law 19 September 2017 HARARE - Morgan Tsvangirai's MDC says it will repeal a law to force the transfer of foreign-owned firms to local ownership if it wins power in the 2018 elections. MDC shadow Finance minister Tapiwa Mashakada said the Indigenisation and Economic Empowerment Act has eroded investor confidence an...
Econet launches empowerment programme 12 June 2017 HARARE - Zimbabwe's largest mobile telecoms company, Econet Wireless, has launched a youth empowerment programme designed to support and equip young people with different skills sets, among them entrepreneurship training and mentorship by highly-qualified professionals. The programme, called E...
Businessman empowers women 1 May 2017 HARARE - Harare businessman Beadle Gwasira has donated sewing machines, as part of his $30 000 revolving fund, to a club of 30 groups of women in his Zanu PF ward seven in Mount Pleasant and where he is also a councilor. With over 200 people attending the handover ceremony in the capital on Fr...
India overhauls indigenisation rules 21 June 2016 MUMBAI - India has announced a radical overhaul of its foreign ownership rules to attract more overseas investment. Airlines and some defence industries may now be 100% foreign owned - up from 49% and 74% respectively. And for overseas retailers there's respite from a rule that required 30%...
Govt waives indigenisation on Air Zim 22 May 2016 VICTORIA FALLS - Government has waived its controversial indigenisation policy to pave way for the recapitalisation of troubled national airline, Air Zimbabwe. Enacted in 2008, indigenisation regulations compel all foreign- owned businesses to cede 51 percent of their shareholding to black Zim...
Zhuwao tosses tax loophole to Chinamasa 4 April 2016 HARARE - Indigenisation minister Patrick Zhuwao says his ministry has approached Treasury after it emerged that amendments to Zimbabwe's black empowerment laws would, in the long run, force empowered employees to sell off their shares to meet tax obligations. Speaking on the sidelines of a mee...
AAG to Zhuwao's defence 4 April 2016 BULAWAYO - The Affirmative Action Group (AAG) has leapt to the defence of Indigenisation minister Patrick Zhuwao over his threats to sue foreign companies that will not comply with the controversial empowerment law. Zhuwao recently threatened to close non-compliant firms, warning that he would...
Zhuwao's indigenisation stance worrying 31 March 2016 HARARE - Indigenisation minister Patrick Zhuwao's combative stance on foreign firms that are yet to comply with the controversial indigenisation policy is very worrying to say the least. Yesterday, President Robert Mugabe's nephew was at it again but this time not only threatening to close all...
Threats against foreign firms 'fascist' 27 March 2016 HARARE - Thousands will be jobless if government goes ahead with its Indigenisation and Empowerment Act directive, economic experts have warned. This follows Wednesday's announcement by Indigenisation minister Patrick Zhuwao that all foreign-owned companies face closure unless they sell or giv...
'Zhuwao playing Russian roulette with economy' 26 March 2016 HARARE - The Welshman Ncube-led MDC has accused government of playing Russian roulette with the economy after government gave foreign businesses until April 1 to comply with controversial equity laws that compel them to cede majority stakes to locals or risk closure. Empowerment minister Patri...
Zim threatens to shut down non-compliant foreign firms 24 March 2016 HARARE - Government yesterday threatened to shut down foreign-owned firms that do not comply with its indigenisation law by April 1. “Cabinet has directed that on April 1 all line ministers invoke Section 5 of the Indigenisation and Economic Empowerment Act Chapter 14:33 and act against all no...
Zhuwao, Chinamasa agree on indigenisation 5 January 2016 HARARE - President Robert Mugabe's Cabinet ministers yesterday agreed on the implementation of the Indigenisation Act in a move aimed at clarifying the controversial policy to attract foreign investors. Finance minister Patrick Chinamasa and Indigenisation minister Patrick Zhuwao — who have be...
Zhuwao, Chinamasa brawl over indigenisation laws 27 December 2015 HARARE - Damaging discord has once again emerged in President Robert Mugabe's Cabinet, with two ministers Patrick Chinamasa and Patrick Zhuwao reading from entirely different scripts on the country's contentious indigenisation framework. So wide has the gulf between the two bigwigs become that...
Zim to clarify indigenisation policy 11 December 2015 HARARE - Zimbabwe is working on announcing and gazetting the Indigenisation Law’s updated framework templates and procedures aimed at clarifying the controversial policy, a Cabinet minister has said. Indigenisation and Empowerment minister Patrick Zhuwao said the new frameworks are meant at br...
Zhuwao takes indigenisation mantra to SA 20 October 2015 HARARE - Newly-appointed Indigenisation minister Patrick Zhuwao will next week headline the Zimbabwe Mining and Tax Law Market Briefing 2015 in South Africa where he is expected to clarify the country's empowerment laws. Enacted in 2008, the indigenisation law requires foreign firms to hand ov...
Has Zhuwao lost his marbles? 6 October 2015 EDITOR — There is something seriously wrong in Zimbabwe today. Companies are already struggling owing to a difficult operating environment. While some in Cabinet are trying to find ways of attracting investment, one — Indigenisation minister Patrick Zhuwao — is actually proposing to impose ...
Zhuwao is offside 28 September 2015 HARARE - Zanu PF's penchant for clicking the self-destruct button, which is clearly underlined by senseless internal fights and policy contradictions, remain the biggest obstacle in the country's re-engagement efforts. There appears to be a deliberate ploy to sabotage the efforts of well-meani...
Govt, Green Fuel in indigenisation talks 20 August 2015 HARARE - Government says it is in discussions with the country's sole licensed ethanol producer, Green Fuel, over the company's compliance with the country's indigenisation laws. Energy and Power Development deputy minister, Tsitsi Muzenda, recently told the National Assembly that government w...
Mugabe call encouraging but… 12 August 2015 HARARE - President Robert Mugabe's encouraging statement on respecting investor rights should not be allowed to stop with the full stop on the paper on which his Heroes Day speech was written on! It's significant that Mugabe, who is seen as a stumbling block to attracting investment into Zimba...
Live empowerment, beneficiation: Mangudya 21 May 2015 HARARE - Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has rallied Zimbabweans to “live their vision and mission on empowerment, and beneficiation” if the country’s economic turnaround is to be achieved. In a recent public lecture emphasising national discipline, the Central Bank boss ...
Zim indigenises 185 mining firms 10 December 2014 HARARE - President Robert Mugabe’s government has indigenised 185 mining firms out of a total 405 applications, businessdaily has learnt. Zimbabwe’s empowerment policy — enacted in 2008 — compels foreigners to cede 51 percent shareholding to black locals. According to Zanu PF’s sixth nation...
Zim 'tweaks' indigenisation policy 1 December 2014 HARARE - Zimbabwe has tweaked its indigenisation policy, a recent announcement by Finance minister Patrick Chinamasa following his 2015 National Budget has indicated. This comes as the empowerment law compelling foreign investors to cede 51 percent shareholding to black locals — has been widel...
Zimplats, govt yet to agree on indigenisation 21 November 2014 HARARE - Zimbabwe's largest platinum producer Zimplats says it has not yet reached a conclusive agreement with government over its indigenisation compliance plan. This comes as the miner — 87 percent owned by South Africa-based Impala Platinum Holdings — last year refused to foot a $17 million...
Empowerment projects continue to falter 1 July 2014 LONDON - Zimbabwe’s economic revolution — encapsulating the transfer of land and business ownership to blacks and the empowerment of communities — has been plagued by a plethora of problems. First was land redistribution. But after about 14 years since the agrarian reforms, the failures of lan...