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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Zimbabwe mining firms given deadline to comply with indigenization law

Posted on 29 March 2011

Companies with mining operations in Zimbabwe have been given six months to comply with indigenization regulations providing for the transfer of majority control to sovereign wealth funds or other state-controlled entities in the name of black empowerment.

A new Indigenization Ministry notice published in the official gazette sets the minimum holding by indigenous investors as a controlling 51 percent stake. There had been some discussion of a lower indigenous stakeholding benchmark for the mining sector……………………………………..Full Article: Source

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