Minister Kasukuwere Explains Empowerment

Implats Transfers 51% Equity to Indigenous Zimbabweans

Joint Press Release between Implats and the Ministry of Youth Development, Indigenisation and Empowerment.

Following a meeting between the Minister of Youth Development Indigenisation and Empowerment, the Chairman of the Implats Board of Directors and CEO of Implats, the new Zimplats Indigenisation Implementation Plan that was presented to the Minister meets the minimum requirements of the Indigenisation and Economic Empowerment Act and Indigenisation and Economic Empowerment Regulations of 2010 and is acceptable in principle to the Government of Zimbabwe.

The details for the transfer of 51% shareholding in Zimplats, comprising 10% shares to community, 10% share to employees and 31% to the National Indigenisation and Economic Empowerment Fund (NIEEF) will be addressed by a joint technical team comprising Zimplats, the Ministry responsible for indigenisation and the NIEEB, but will be at appropriate value.

…………………………………………………………………………………………
Honourable Minister S. Kasukuwere ( M.P)
Minister of Youth Development, Indigenisation and Empowerment
…………………………………………………………………………………………
Dr. K. Mokhele
Chairman of Implats

                                                                              13 March 2012

Mimosa Holdings: Zvishavane Community Share Ownership Trust

The Zvishavane Community Share Ownership Trust has been launched with the community recieving 10% equity from Mimosa Holdings (Pvt) Limited as well as US$10million.

The President of the Republic of Zimbabwe launched the Trust acknowledging the compliance of Mimosa Holdings and citing that companies not in compliance with the Indigenisation law would be dealt with accordingly.

Community Share Ownership Trusts remain as a tool for implementation of the Government's objective to ensure that the people of Zimbabwe benefit from their God Given resources and ensure sustainable development as well as the creation of secondary economies.

Economic Empowerment

It's been long before I communicated with you.I am continuing on our program to empower the people of Zimbabwe.We have had successful launches of Community Trusts and there is greater awareness among our people and especially the youth.
We are own liberators . Companies have to respect our laws,it's not about elections but it's about fighting poverty and improving the well being of our people.
The youths of our country have a duty to build the country.We are faced with serious challenges and at times serious let downs.However our commitment to succeed will help us overcome all the barriers.
Let's continue marching,we will prevail. I am following with keen interest developments that will change our youths and make them the builders of Zimbabwe. Let's shun all negative behavior and engage peacefully.