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.
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Honourable Minister S. Kasukuwere ( M.P)
Minister of Youth Development, Indigenisation and Empowerment
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Dr. K. Mokhele
Chairman of Implats
13 March 2012