ARTICLES RELATING TO INDIGENISATION

Zim indigenisation law to stay

2013-12-19 21:02

The Zimbabwean government is set to fine-tune policies including the indigenisation law, which will not be amended, says Finance Minister Patrick Chinamasa.

Zim backtracks on indigenisation stake

2013-10-17 10:45

Zimbabwe says the government will not necessarily insist on a 51% stake from all foreign companies operating in Zimbabwe.

Old Mutual launches indigenisation shares

2013-10-07 15:30

Old Mutual Zimbabwe has started trading B class shares issued under the indigenisation and empowerment programme to selected institutions and individuals.

Old Mutual forges ahead with Zim empowerment

2013-09-12 11:06

Old Mutual's indigenisation plans for its Zimbabwean operations are in full swing after it ceded a 3.5% stake to a consortium led by a former MD.

Tongaat's Zim struggles continue

2013-06-06 11:43

Zim authorities want Tongaat Hulett’s subsidiaries to explain allegations of deliberately under-declaring the size of its Hippo Valley Estates cane plantations.

Zim to compel 50% local procurement

2013-05-28 10:48

Zimbabwe will soon force all firms to procure 50% of their goods and services from businesses in which a controlling interest is held by indigenous Zimbabweans.

Zim: No changes to indigenisation law

2013-04-24 15:50

Zimbabwe's Indigenisation Minister Saviour Kasukuwere says reports of amendments to foreign mines' 51% shareholding requirement are misleading and misguided.

Zim now wants 51% equity at zero cost

2013-04-22 13:01

Zimbabwe wants legal changes so that locals can "benefit fully, and without cost whatsoever, from enterprises that exploit their God-given natural resources".

Zim threatens Standard Chartered

2013-04-08 15:50

Zimbabwe is reportedly losing patience with Standard Chartered Bank and Mzi Khumalo’s Metallon Gold for failing to comply with indigenisation laws.

Foreign banks submit Zim compliance plans

2013-03-28 09:48

Indigenisation Minister Saviour Kasukuwere says the indigenisation of Zimbabwe's banking sector - including Stanbic Bank - should be completed by July 2013.

Zim indigenisation row widens

2013-03-07 13:53

The rift between Reserve Bank of Zimbabwe governor Dr Gideon Gono and Empowerment Minister Saviour Kasukuwere over indigenisation deals is deepening.

Zim: We can't sell minerals for nothing

2013-03-06 16:00

Zimbabwe's Mines Minister Obert Mpofu has announced plans to increase platinum royalties, saying "We can’t continue selling our minerals for nothing".

Cafca to comply with Zim indigenisation

2013-03-01 13:45

Dual-listed Cafca Limited, 71% owned by Reunert, has submitted a plan to Zimbabwe's indigenisation board and expects to be compliant in a few months.

Tsvangirai wants probe on indigenisation

2013-02-19 10:06

Zimbabwean Prime Minister Morgan Tsvangirai has called for an investigation on indigenisation after reports of alleged corruption in empowerment transactions.

Implats to sell 51% stake to Zim locals

2013-01-11 08:29

Impala Platinum says it will sell a majority stake in its Zimbabwe unit to local black investors, to meet the government's drive for black ownership of firms.

Zim fine-tuning BEE policy

2012-12-02 09:25

Zimbabwe is reviewing its national economic empowerment policy to be more inclusive, broad based, pro-poor and gender sensitive, while creating massive wealth.

Zim's pro-black laws scare off investors

2012-11-30 08:15

Zimbabwe Prime Minister Morgan Tsvangirai says the its laws that force foreign firms to cede majority stakes to blacks is driving away desperately needed foreign investment.

Hulett firm under indigenisation threat

2012-10-26 16:21

Zimbabwe’s indigenisation board has given Hippo Valley Estates, owned 53.3% by Tongaat Hulett, less than two weeks to fall in line with its requirements.

Zim's indigenisation progress hailed

2012-10-21 11:22

Only three mines in Zimbabwe are yet to table plans on how they will comply with the country’s 51% indigenisation programme, says empowerment minister Saviour Kasukuwere.

Mzi Khumalo's mine starts indigenisation

2012-10-08 16:46

Zimbabwe's largest gold miner, Metallon Gold, owned by South African mining magnate Mzi Khumalo is working on implementing its indigenisation programme.

Zim equity: new investors may be exempt

2012-09-20 09:48

Zimbabwe is in the process of reviewing legislation which will include a clause that will release new foreign investors from indigenisation.

'Indigenisation not nationalisation'

2012-07-17 12:05

The indigenisation policy in Zimbabwe is not nationalisation, a government official says.

Minister: Zim schools grab bid illegal

2012-07-04 12:19

A policy to force private schools to come under majority black control is illegal, says Zimbabwe's education minister, showing up cracks in the ruling coalition.

Zimbabwe lifts Zimplats banking freeze

2012-05-31 07:58

Zimbabwe's central bank has lifted a ban on the local unit of South Africa's Impala Platinum for using local banking services over accusations it used offshore accounts.

 

Zim to review indigenisation deals

2013-10-31 09:31

The Zimbabwean government is set to review all indigenisation and economic empowerment agreements, says new Indigenisation Minister Francis Nhema.

Zim: Change in the air

2013-10-15 07:13

Only time will tell if a new dispensation has arrived, says Malcom Sharara.

BAT's Zim profit dips on empowerment costs

2013-09-13 11:13

British American Tobacco’s Zimbabwean unit has reported a $1.4m loss for its half year after the group accounted for a $10.6m indigenisation expense.

Zim market dives on Mugabe re-election

2013-08-05 12:33

Shares in SA-owned firms are down and investors have fled the Zimbabwean stock market on fears of Zim dollar reintroduction and intensification of empowerment.

Zimplats: Listing would've been better

2013-05-29 15:17

Impala Platinum's subsidiary Zimplats says it would have preferred localising the firm through listing on the Zimbabwe Stock Exchange, as opposed to indigenisation.

Zim bankers fear indigenisation - survey

2013-04-25 08:45

Zim bankers believe the call for indigenisation is a threat to the stability of a sector already on the cliff edge of an uncertain environment, a survey shows.

Shakeup plans for foreign mines in Zim

2013-04-23 18:07

Zimbabwean President Robert Mugabe's party wants a change to laws that will compel mines to turn over majority stakes to local blacks for free, a report states.

Gono: No plans to close StanChart in Zim

2013-04-10 12:40

Zimbabwe's central bank has soothed fears after a threat to shut down Standard Chartered Bank and three mining firms until they comply with the law.

New Standard Bank boss speaks out on Zim

2013-03-08 09:32

Standard Bank Group's new joint CEO Ben Kruger feels giving away majority ownership of its Zimbabwean unit Stanbic Bank will not be in the bank's interests.

Implats Zim deal in jeopardy

2013-03-07 10:37

Impala Platinum's indigenisation efforts have been thrown into disarray after demands by Robert Mugabe that Zimplats give away 51% of its shares for free.

Zimplats in storm over empowerment deal

2013-03-01 11:31

Zimplats is refusing to pay the Zimbabwean government $17m in consultancy fees for a controversial $1bn indigenisation deal.

Minister: Zim is safe for investments

2013-02-08 11:11

Zimbabwe’s indigenisation minister Saviour Kasukuwere says PPC's continued investment in Zimbabwe proves empowerment is not a setback to foreign investment.

Metallon Gold risks losing Zim licence

2012-12-03 16:30

Mzi Khumalo's Zimbabwe based Metallon Gold risks losing its operating permit for failing to comply with the country’s indigenisation programme.

Zim MDC launches economic blueprint

2012-11-30 10:41

One of Zimbabwe's political parties, The MDC-T, led by Morgan Tsvangirai has unveiled its economic blueprint with measures to create jobs and lure billions in investment.

PPC's Zim unit signs compliancy deal

2012-11-20 10:06

Pretoria Portland Cement has signed away a 29.6% shareholding in its Zimbabwean unit, making it fully compliant with the country’s indigenisation laws.

Half a loaf is better than none

2012-11-02 10:42

Malcom Sharara explains why Zim equity laws don't scare off foreign miners.

BAT Zim approves indigenisation plan

2012-10-26 13:47

BAT Zimbabwe shareholders have given the go-ahead for its indigenisation proposal, which will transfer 26% of the shareholding to indigenous investors.

Canada mine completes Zim indigenisation

2012-10-12 12:18

Canadian-based mining house Caledonia Mining Corporation has completed the transfer of a 51% stake of its Blanket Mine to indigenous Zimbabweans.

BAT bows to Zim indigenisation

2012-10-05 09:36

BAT Zimbabwe is set to donate shares to employees after the indigenisation ministry said the company is only 6.22% indigenous.

Zim minerals untapped - expert

2012-07-17 13:23

Zimbabwe's minerals are among the most under-exploited in the world, an investment expert says.

Zim banks grab illegal, says central bank

2012-07-05 11:05

Zimbabwe's central bank chief has cautioned government against its planned seizure of majority stakes in foreign-owned banks, saying this breaches banking laws.

Zimbabwe takes aim at banks

2012-07-03 11:41

Zimbabwe has given foreign-owned banks a year to hand over 51% stakes to locals, as President Robert Mugabe ramps up the country's empowerment drive.

 
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