Zimbabwe: Triangle BEE Plan Shot Down

TONGAAT Hullet's Zimbabwe operation, Triangle (Pvt) Ltd's indigenisation compliance plan has been shot down by government on grounds that it does not satisfy requirements of the empowerment legislation, businessdigest has learnt.

Contrary to recent media reports the company had met indigenisation requirements, sources say negotiations between government and the sugar firm on how the latter intends to cede majority shareholding to Zimbabwean locals are dragging on due to fundamental differences between the two parties.

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