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Indigenisation not xenophobic

Youth and Empowerment Minister Saviour Kasukuwere today said Zimbabwe’s indigenisation law which requires that 51 percent of the stake in companies whose value exceeds $500 000 should be held by locals was not meant to dispossess anyone. “This policy is not intended for xenophobic dispossession, but to ensure meaningful participation by the local people in economic activities such as mining. Indigenisation and economic empowerment has become an emotive subject as a result of misconceptions regarding government’s intention. We are not declaring a one-size-fits-all for black empowerment in Zimbabwe, cognisant that situations differ across sectors.”

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