adminquestions from Herald Business, the company’s managing director, Mr Kumbirayi Katsande, said Nestle was not in a position to discuss the proposal with anyone other than the Government. He said that the plan remained confidential until the foreign-owned firm concludes discussions with the Government.
“The Nestle Zimbabwe indigenisation plan was submitted to the Ministry of Youth Development, Indigenisation and Empowerment and we are waiting for the ministry’s response to our proposals.
“The plan remains confidential, and has not been discussed with any stakeholder or third parties other than with Government itself.”
Mr Katsande’s comments come in the wake of reports that the Nestle Zimbabwe workers were demanding a 28 percent stake in the Swiss-owned food processing company as part of the compliance with Zimbabwe’s indigenisation law.
The Indigenisation and Economic Empowerment Act states that all foreign-owned firms should cede 51 percent equity to indigenous Zimbabweans.
Mr Katsande acknowledged receiving the letter from the United Food and Allied Workers’ Union, but was not prepared to discuss the issue any further.
The Nestle indigenisation proposal has drawn much interest because the company is in a sector that is reserved for locals. Followers of the indigenisation debate are closely monitoring events especially in view of past clashes between Nestle and the Government.
An official in the Ministry of Youth Development, Indigenisation and Empowerment yesterday declined to comment on the matter saying that the ministry would issue a statement once the deliberations were complete.
Online Reporter
- Herald
- September 27, 2026
- 7 views
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