Mall of Zimbabwe indigenisation plan approved

Government has approved the indigenisation plan for the $100 million Mall of Zimbabwe in what will give indigenous partners an initial 40% stake in the project.

Augur Investments spokesman Van Blerk said the project awaited a few more regulatory approvals, but the indigenisation plan had been given thumbs up.

Blerk said that lease agreements with prospective tenants had been signed off on the strength of the approved plan with construction work set to begin soon.

Blerk said that locals would initially hold 40 percent stake in the project, which would be increased over years to comply with the country's equity laws.