NewsDay reports that government yesterday took over all foreign mining firms that have not
complied with the Indigenisation and Empowerment law to dispose 51%
shareholding to locals.
According to NewsDay, Indigenisation minister Saviour Kasukuwere said profits accruing to the
51% now belonged to government and warned affected firms that attempt to
defraud the State will be prosecuted.
But, Prime Minister Morgan Tsvangirai immediately rebuffed the claims
and urged business to ignore Kasukuweres notice saying he had executive
powers and the Constitution of Zimbabwe bestow him with the authority to
oversee and supervise policy formulation and implementation.
Tsvangirai's position is that the GNU has bot commisioned the minister's actions that are a threat to investment in the industry.
So who do we listen to?
Friday, 6 April 2012
Wednesday, 4 April 2012
South African bound cigarrette smugglers doomed
The South African Police Services have intensified their move to eliminate crimninal elements who have been smuggling Zimbabwean produced tobbacco products to South Africa.
For a long time, these criminal elements have been trading these products on Jo'burg streets but their business is said to be very slow because of the move by the SAPS to intensify roadblocks searches in various routes into the city.
The Zimbabwean reports that the South African Revenue Services believes the government loses an estimated R2 billion in tax revenue to cigarette smuggling, which is about the same amount as the legitimate tax revenue.

Is this yet another sign that we need more meaningful youth development and empowerment? Whats your take?
For a long time, these criminal elements have been trading these products on Jo'burg streets but their business is said to be very slow because of the move by the SAPS to intensify roadblocks searches in various routes into the city.
The Zimbabwean reports that the South African Revenue Services believes the government loses an estimated R2 billion in tax revenue to cigarette smuggling, which is about the same amount as the legitimate tax revenue.
Is this yet another sign that we need more meaningful youth development and empowerment? Whats your take?
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