Articles tagged 'francis nhema'

'Community share trusts probe underway' 26 August 2014 HARARE - Francis Nhema, the Indigenisation and Economic Empowerment minister, has said the probe of Zimbabwe’s 61 community share ownership trusts is still ongoing. In an interview with the Daily News yesterday, Nhema said his ministry was seized with the audit of the trusts. “The audits ar...
No Indigenisation Act amendments: Nhema 27 June 2014 HARARE - Indegenisation minister Francis Nhema insists that there will be no amendments to the Empowerment Act until deliberations are completed. He told Parliament’s Indigenisation and Economic Empowerment portfolio committee yesterday that amendments to the policy — compelling foreigners to ...
Parly summons Nhema 25 June 2014 HARARE - Parliament has re-invited Indigenisation minister Francis Nhema to clarify the confusion surrounding the controversial $50 million Marange-Zimunya Community Share Ownership Trust (MZCSOT). Former Indigenisation minister Savior Kasukuwere is alleged to have lied to President Robert Mug...
Zim to extend indigenisation deadlines 8 June 2014 HARARE - Zimbabwe says it will extend indigenisation compliance deadlines for “serious investors”. Empowerment minister Francis Nhema said government “is looking for sincere investors”. “If investors want to bring their knowledge for the benefit of the country, then government is flexible t...
Zim moves to clarify indigenisation policy 4 June 2014 HARARE - President Robert Mugabe's Cabinet has ordered Empowerment minister Francis Nhema to craft a paper clarifying government's position on the Indigenisation Act. Last week, Finance minister Patrick Chinamasa told Parliament that the document will put to an end to speculation surrounding t...
Mugabe exposes Kasukuwere 26 May 2014 HARARE - As the economic crisis in Zimbabwe reaches boiling point, President Robert Mugabe’s move to push for amendments to the controversial indigenisation policy has left former minister of Indigenisation, Savior Kasukuwere with egg on his face. Diverging from Kasukuwere’s hard stance on the...
Gono refuses to take credit 26 May 2014 HARARE - Retired Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono yesterday refused to take credit for government’s climb-down on the controversial indigenisation policy. Gono said ultimately it is the nation not individuals who should benefit from the programme. During his last years at...
Mr President, thank you for listening 26 May 2014 HARARE - Life is practical. President Robert Mugabe has now confirmed what we have been saying all along — that he must immediately amend the indigenisation policy to make it friendly to investors not the thuggish way it was being implemented. While a few critics may continue to proclaim ot...
Has Mugabe seen the light? 26 May 2014 HARARE - News that the cash-strapped government will review the indigenisation and empowerment policy with a view to lure investors, shows the seriousness of the economic situation facing the country. Government announced at the weekend that there would be a review of the indigenous and empowe...
I'm hunting for wife — Nhema 25 May 2014 HARARE - Youth, Indigenisation and Economic Empowerment minister Francis Nhema, who recently divorced his wife, Louise, daughter of the late liberation icon Joshua Nkomo, claims he is still single and searching for a new wife despite widespread speculation that he has married a 22-year-old beauty...
Indigenisation a 'losing policy' 6 May 2014 LONDON - President Mugabe and his Zanu PF party have been bad for foreign investment to this country over the past 14 years. To Mugabe and his party, foreign investment did not seem to matter much. Once land was redistributed, Zimbabwe would be self-sufficient. The discovery of one of the w...
Is Zanu PF softening on indigenisation? 27 April 2014 HARARE - Following years of disastrous economic policies and strong rhetoric, Zimbabwe seems to be softening its stance on ownership requirements for foreign-owned businesses operating in the country. Statements by President Robert Mugabe at the Zimbabwe International Trade Fair (ZITF) in Bula...
Empowerment rethink will boost investment 24 April 2014 HARARE - President Robert Mugabe’s softening stance on the controversial indigenisation policy is a welcome development that will likely spur industrial and economic development in the country. In a major climb down from his usually confrontational attitude, Mugabe told the nation during his I...
Mugabe hits at indigenisation confusion 19 April 2014 HARARE - President Robert Mugabe yesterday ruled out a one-size-fits-all indigenisation approach, saying only companies utilising the country’s natural resources will be required to immediately turn over majority stakes to indigenous Zimbabweans. Mugabe told a capacity crowd of 60 000 at the N...
Govt to prosecute empowerment fronts 17 April 2014 HARARE - Government will prosecute Zimbabweans fronting in empowerment deals, Indigenisation minister Francis Nhema said. This comes amid reports that some locals are conspiring with foreigners in the crafting of indigenisation compliance proposals, resulting in the latter remaining major shar...
'Diamond firms had verbal agreement' 4 April 2014 HARARE - Francis Nhema, Zimbabwe’s Indigenisation minister, yesterday revealed that diamond companies merely made gentleman’s agreements and used goodwill towards the contribution of  $10 million each towards the Community Share Ownership Trust (CSOT). Nhema was giving oral evidence before the...
Nhema started well but... 23 March 2014 HARARE - Youth, Indigenisation and Economic Empowerment minister Francis Nhema began his term on a high note after giving indications that the “one size fits all” approach to indigenisation that his predecessor Saviour Kasukuwere had been implementing was disastrous. The appointment of the sof...
Thumbs up to Nhema 3 January 2014 HARARE - A controversial proposal by the Zimbabwe government to kick out foreign shop-owners, mainly Chinese and Nigerian nationals, in order to create opportunities to locals had sent shudders through diplomats, corporate executives, investors and small-time foreign businesspersons. Most of t...
Foreigners banned from owning businesses 2 January 2014 HARARE - Zimbabwe has from New Year’s Day banned foreigners from owning a majority stake in a host of businesses from bakeries to beauty salons, a cabinet minister said on Tuesday. Foreigners will only be allowed to own minority stakes in the affected businesses if they have local partners, an...
Govt reviews Zimplats' indigenisation deal 1 November 2013 HARARE - Zimbabwe Platinum Mines Limited (Zimplats) says government is reviewing the group's empowerment plan following the appointment of a new Indigenisation minister. Government recently appointed Francis Nhema in charge of the Indigenisation and Empowerment ministry, taking over from Savio...
Nhema on right track 15 October 2013 HARARE - Francis Nhema, the new Youth, Indigenisation and Economic empowerment minister has come up with refreshing statements on indigenisation where he seems to be advocating for a sober approach to the programme. Nhema's bold statement last week that the programme should not take the danger...
Nhema, Nkomo's daughter divorce 11 January 2013 HARARE - Environment and Natural Resources minister Francis Nhema is now officially divorced from his wife Louise after High Court Judge Hlekani Mwayera granted an order authorising the break-up. Nhema s wife, Louise Sehlule Nhema, daughter of the late Vice President Joshua Nkomo, instituted the ...