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THE government will next week cancel licences of foreign firms that have not complied with the Indigenisation law, the Minister ofYouth Development, Indigenisation and Empowerment Patrick Zhuwao has said.
Speaking at a press conference yesterday Minister Zhuwao said the Cabinet sat on March 22 and unanimously passed this resolution.
“It’s March 23, 2016, three months into 2016 and businesses have continued to disregard Zimbabwe’s indigenisation laws, as if daring our President and his government to do something about their contemptuous behaviour”.
“Cabinet has directed that on April 1, 2016 all Ministers invoke Section 5 of the Indigenisation and Economic Empowerment Act (Chapter 14:33) against all non-compliant businesses in their sectors,” he said.
He added that the process will involve the line minister issuing an order to the licensing authority to cancel the licenses and then notify the non-compliant business in writing of the intention to cancel licences. The non-compliant business will then be allowed to show the just cause why their licence must not be cancelled.
Minister Zhuwao added that the line Minister will then direct the non-compliant business to become compliant, failure of which the minister will notify parties likely to be affected and the licensing authority will without notice cancel licences after a 30 day notice to comply.— BH24.
Online Reporter