GN 2015-394A - Indigenisation Guidelines (24 Dec 2015)

General Notice 394A of 2015.

FRAMEWORKS. PROCEDIIRES AND GUIDELINES FOR IMPLEMENTING THE INDIGENISATION AND ECONOMIC

EMPOWERMENT ACT (CHAPTER 14:33]

 INTRODUCTION

1. The Minister of Youth, Indigenisation and Economic Empowerment was mandated to simplify and clarify the guidelines and processes for complying with the country's Indigenisation and Economic Empowerment laws espoused in The indigenisation and Economic Empowerment Act [Chapter 14:33]("IEE Act") in order to achieve the following objectives:

· Encouraging private sector investment in line with His Excellency, the President's 10-point economic plan;

· Economically empower indigenous Zimbabweans; and

· Ensuring compliance with the law.

2. In the State of Nation Address, His Excellency, the president, made it clear that "in line with the Rapid Approach Framework, we should see, before 31st December, 2015, an urgent overhaul of the Companies Act and all pieces of allied legislation which have hitherto hindered the Ease of Doing Business. Instead, we expect to have a clear and robust legislation and regulatory framework to be urgently put in place in order to create a One Stop investment Centre that streamlines processes and procedures. This is now very urgent and high priority matter for which those responsible will be held to account.”

3. During my 2016 National Budget Statement, I indicated that: "Consultations towards strengthening and clarifying the process of implementing the indigenisation policies in the other sectors of the economy, outside the resources sector have been completed. To this end the Minister of Youth, indigenisation and Economic Empowerment ,will be announcing and gazetting before Christmas the frameworks’ templates and procedures for implementing the indigenisation policies in a manner that both promotes investment and eliminates discretionary application of the law.

Note By Veritas: These Regulations were repealed in their entirety by General Notice 09 of 2016 - New Indigenisation Frameworks, Dated 8 January 2016.

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