16 January 2013

Zimbabwe: NIEEB to Decentralise

THE National Indigenisation and Economic Empowerment Board is decentralising operations with regional offices expected to open next month. NIEEB public relations and communications manager Ms Grace Tsvakanyi said decentralisation would ensure visibility of the organisation and accessibility to the public as it implemented its mandate.

Ms Tsvakanyi said decentralisation would also ensure that NIEEB focused on its values which targeted broad-based empowerment.

She said offices had so far been opened in Mutare to cover Manicaland province and Bindura to cover Mashonaland Central while one would be opened in Bulawayo for Matabeleland North and South.

Through the Indigenisation Act, the Government seeks to spearhead economic empowerment of previously disadvantaged indigenous Zimbabweans.

Under the Act, foreign-owned entities valued at over US$500 000 must sell 51 percent of their shares to locals to address the economic disparities that existed during the colonial era.

New Ziana

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