Indigenisation

Indigenisation and Economic Empowerment

The Indigenisation and Economic Empowerment Act Chapter 14:33 Act 14/2007 was passed by Parliament and signed into law shortly before the Parliamentary and Presidential elections held in 2008.

Since then Regulations have been published by the responsible Minister (and amended several times), and a number of Government Notices have been published.

The aggregate effect of this legislative activity is to require businesses in Zimbabwe having a net asset value of over the prescribed threshold (which varies sector to sector), to “dispose of” a controlling interest of not less than 51% to “indigenous Zimbabweans”.

The time frame within which such disposal must take place differs from sector to sector.

Board of Directors

Eve C. Gadzikwa – Board Chairperson
Qualifications: MBA (NTU UK), FIMLS (UK), Graduate Diploma Marketing Management (SA)

 

Peter Shoniwa – Board Member
Qualifications: Fellow of the Insurance Institute of South Africa (FIISA), Chartered Insurer
Peter is the Employee Benefits Executive.

 

Vimbai Nyemba – Board Member
Tsitsi Mbabvu – Board Member
Benson Gasura – Board Member
Naboth Machemedze – Board Member
Mary Takavarasha – Board Member