Government to raid non-compliant foreign businesses


0

The government is to raid foreign-owned businesses operating in sectors reserved for locals to make sure they comply with the law, the head of the National Indigenisation and Economic Empowerment Board said yesterday.

The companies were supposed to comply with the law which set aside 14 sectors for locals with effect from the beginning of this year.

There have been conflicting reports about compliance with some reports saying the government had relaxed the law insisting that only new entrants should comply.

President Robert Mugabe won last year’s elections on the back of indigenisation and consolidating land reform.

NIEEB boss Wilson Gwatiringa said 578 foreign-owned businesses had so far received clearance certificates. The board received 1 311 applications.

Those not compliant face fines or up to three months in jail.

The reserved sectors are:

  1. Agriculture: primary production of food and cash crops.
  2. Transportation: passenger busses, taxes and car hire services.
  3. Retail and wholesale trade.
  4. Barber shops, hairdressing and beauty saloons.
  5. Employment Agencies.
  6. Estate Agencies.
  7. Valet services.
  8. Grain milling.
  9. Bakeries.
  10. Tobacco grading and packaging.
  11. Tobacco processing.
  12. Advertising Agencies.
  13. Milk processing.
  14. Provision of local arts and craft, marketing and distribution.

(1 VIEWS)

Don't be shellfish... Please SHARETweet about this on Twitter
Twitter
Share on Facebook
Facebook
Share on LinkedIn
Linkedin
Email this to someone
email
Print this page
Print

Like it? Share with your friends!

0
Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

0 Comments

Your email address will not be published. Required fields are marked *