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Permanent secretary for the empowerment ministry, George Magosvongwe says government will enforce a regulation that requires that certain sectors of the economy must belong to locals from 1 January 2014.
Under the country’s economic empowerment legislation, areas reserved for locals include retail and wholesale businesses, barbershops, hair dressers, beauty salons, bakeries, employment agencies and grain milling, among others.
Any who do not follow these regulations face arrest, said Magosvongwe.
The regulation was gazetted in May making it mandatory for all locally and foreign-owned firms in the reserved sectors to have a an indigenisation compliance certificate, which would only be offered to locals.
Essentially that means the multitude of Nigerian and Chinese stores which essentially own the gulf area will be affected.
How exactly the locals will fill these gaps is not clear. Nigerians and Chinese shop owners have been accused by some locals for driving rentals up. Will the owners of buildings be willing to accept less rent given the locals not being in a position to pay these costs already?
Is there a plan in place, perm sec?
With information from New Zimbabwe
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