Chamber proposes credits for indigenisation

The Chamber of Mines today proposed a combination of equity and credits for social investments as a way for foreign -owned mining companies to fulfill Zimbabwe’s indigenisation policy, which requires that the companies to sell 51 percent of their equity to locals by September. “The chamber’s own proposals to government had been for a minimum indigenization quota of 26 percent equity, with the balance of 25 percent made up of credits arising from corporate social investments, support to the small-scale mining sector, local procurement, skills development, release of ground and establishment of new businesses,” the chamber said.

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