Indigenisation and Economic Empowerment Act. For the convenience of (a) the Zimbabwe ~lining Development Corporation established in. The Indigenisation and Economic Empowerment Act (Chapter ) of is not ECONOMIC EMPOWERMENT POLICY IN ZIMBABWE. GOVERNMENT has removed the local ownership requirement for foreign investment into the country, save for the diamond and platinum sectors, Finance.
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Who are the beneficaries from the indigenisation process?
Indigenisation is a national approach which seeks to benefit all indigenous citizens as outlined above. The following measures have been instituted to ensure broad based participation by a broad spectrum of the indigenous Zimbabwean population: They are immense benefits to the business, staff and indiyenisation nation in following such an arrangement. A qualifying Employee Share Ownership Scheme or trust shall be constituted by a Deed of Trust registered with the Deeds Office and shall specify the percentage of shares to be held by or on behalf of the employees.
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An owner of a business or employer wishing to use the qualifying scheme or trust for the purpose of this section shall submit to the Minister Form IDG 04 indigenksation with a copy of the Deed of Trust of the qualifying scheme or trust.
Community Share Ownership Trusts. The proceeds from such participation must be properly accounted for and used in projects which benefit the communities as outlined below.
The accounts of the Trust shall be audited on an annual basis. Community Share Ownership Schemes or Trusts shall be established by businesses involved in the commercial exploitation of natural resources, including minerals since the relevant communities have the natural right to benefit from their God-given resources.
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The Chairperson of the Rural District Council shall be a trustee. Money accruing to the Trust from such shareholding in a business shall be used for the indugenisation of social and economic infrastructure in line with the priorities of the communities concerned.
Some of the projects to be undertaken through the proceeds of the trust are: The following ziimbabwe have been published for the mining and manufacturing sector: The General Notice required all non indigenously owned companies to submit Revised Indigenisation Implementation plans. The following are the minimum requirements: General Notice of The notice requires the following: The following are the annual indigenisation targets: General Notice of The General Notice required all non indigenously owned companies to submit Revised Indigenisation Implementation plans.
The disposal of shares was to be achieved within six months of gazetting General Notice of The value of shares to be disposed of to designated entities shall be calculated kn the basis of a valuation agreed to between the Minister and the non indigenous mining business concerned, indigenisatino shall take into account the State Sovereign Ownership of the mineral s exploited or proposed to be exploited.
General Notice of The notice requires the following: Ministry Gallery Ministry in Photos.