Implats, the world’s second-largest platinum miner, has agreed to sell a majority stake in its Zimbabwe unit to local black investors for $971 million to meet black ownership targets. “The transaction being concluded today is a flagship of the policy objectives of our government’s empowerment of indigenous Zimbabweans,” Saviour Kasukuwere, the minister leading the push, said at a signing ceremony. Under the deal, Implats will transfer 51 percent of Zimplats to Zimbabwean investors as follows: 10 percent to the community, 10 percent to Zimplats employees and 31 percent to the state-controlled National Indigenisation and Economic Empowerment Fund.-

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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.

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