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*Govt to amend Indigenisation and Economic Empowerment Act* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?pb Speaking to The Herald, Presidential spokesperson Mr George Charamba said that President Emmerson Mnangagwa has instructed the Chief Secretary to the President and Cabinet, Dr Misheck Sibanda to make sure that the Indigenisation and Economic Empowerment Act reflects Government policy position that the 51-49 percent requirement only applies to natural resource-based investments where foreign investors are required to have 49 percent shareholding, while Zimbabweans own 51 percent. The policy position is contained in a Presidential statement that was issued by former President Robert Mugabe on April 11, 2016, where he clarified conflicting positions on the interpretation of the empowerment law. In his Presidential statement, former President Mugabe said implementation of the Indigenisation and Economic Empowerment Act would be done in three sectors; namely: natural resource sector, non-resource sector and reserved sector. ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- More: Herald itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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