Government to raid foreign businesses


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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 today. 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.

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The Insider

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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