President to launch share scheme for Masvingo

“We are looking at seven institutions that include Murowa, Bikita Minerals and others,” he said.

The minister said they will also look at problems that occurred at Renco Mine and sugar producer Tongaat Huellet, the South African company that has been resisting indigenisation regulations.

“As I said we will be going to Masvingo tomorrow (today) and it (Renco Mine issue) is one of the areas that we will be looking at.

“The company itself has not been telling the truth, it has been lying. While we do not condone activities outside the law, the company also has an obligation to comply with the law,” he said.

Wives of workers at Renco Mine demonstrated against management of the company operated by       Rio Zim for reneging on the payment of their husband’s annual bonuses and general poor working conditions.

Meanwhile Minister Kasukuwere said most companies in the mining and manufacturing sectors had complied with the empowerment laws.

“Overally the majority of entities in the mining sector have complied with the indigenisation laws including the major companies. They have realised that the only way they can have sustainable operations is by complying with the law,” he said.

He said in the mining sector at least 325 companies have complied while 80 have also done the same in the manufacturing sector.

Minister Kasukuwere said the energy and tourism sectors were generally in compliance but hit out at the financial services sector.

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