News / National
Zimbabwe police to enforce indigenisation
05 Oct 2011 at 08:01hrs | Views
Eyewitness News reports that Zimbabwe police will be roped in to ensure foreign firms comply with new Black Economic Empowerment (BEE) requirements, Zimbabwe's National Indigenisation and Economic Empowerment Board (NIEEB) said.
Authorities said around 700 companies are refusing to comply with legislation.
The move is likely to inspire fear in Zimbabwe's shaky business sector.
On Wednesday, NIEEB said officers will go to various companies to ensure that they submit plans to hand over 51 percent shares to local banks.
Authorities said around 700 companies are refusing to comply with legislation.
The move is likely to inspire fear in Zimbabwe's shaky business sector.
On Wednesday, NIEEB said officers will go to various companies to ensure that they submit plans to hand over 51 percent shares to local banks.
Source - ewn
