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Zimbabwe May Introduce Empowerment Levy on Foreign Companies

Zimbabwe may introduce a levy on foreign and white-owned companies to pay for the training of unemployed black Zimbabweans, Indigenization Minister Francis Nhema said. The southern African nation has said its law on local ownership, which requires companies to sell or cede 51 percent of shares to black Zimbabweans, may …

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300 laws drafted for alignment

Government has completed drafting more than 300 Statutes out of the 450 that need to be aligned with the new Constitution, Justice, Legal and Parliamentary Affairs Deputy Minister Fortune Chasi has said reports The Herald today (Friday). The newspapers reports that this is done to avert a constitutional crisis where …

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Zimbabwe Stock Exchange pursues listing as indigenisation option

HARARE – The Zimbabwe Stock Exchange is pursuing plans to allow listing on the local bourse as part of options to comply with the indigenisation law. Alban Chirume, the bourse’s chief executive, said efforts to engage Indigenisation minister Francis Nhema were already underway. “There is need to interact with the …

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Tetrad shelves commercial banking plans

Sergey Pokusaev’s Horizon Capital Consortium (HCC) has put on hold plans to turn Tetrad Investment Bank (TIB) into a commercial bank and will stick with investment banking specialising in mining and infrastructure development, businessdigest has established. Sources said Pokusaev, who recently acquired a controlling stake in TIB, will abandon plans …

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