Govt reprieve for ZSE

INDIGENISATION and Empowerment minister Saviour Kasukuwere will meet the Zimbabwe Stock Exchange (ZSE) and the Securities Commission (SEC) to deliberate on the empowerment regulations compelling white and foreign businesses to sell controlling stakes to blacks, amid reports that government may grant a reprieve.

ZSE chief Emmanuel Munyukwi confirmed that the ministry would be talking to the bourse but refused to give further details.

But a source said Kasukuwere might grant the market some measure of reprieve.

“The ministry will be meeting ZSE and SEC to hear how best they can implement this policy. They want to give the ZSE some kind of reprieve,” a source said.

This comes after stocks fell on heightened fears that government would force foreigners to sell 51% stakes in businesses in the country.

The mainstream index has fallen by over 20% weighed down by uncertainty over government’s new policy. –– Staff Writer.

Top