In 2007 the Government of Zimbabwe promulgated the IEE Act with the intention of empowering indigenous Zimbabweans and thus the law gave a provision for the setting up of Community Share Ownership Trusts (CSOTs).The community share ownership trusts were established in communities in which mining sectors undertook their operations. However in 2018 through the Finance Act of 2018 the government of Zimbabwe repealed sections of the Indigenisation and Economic Empowerment Act and restricted the provisions and requirements of the Indigenisation Act to the Platinum and Diamond mining sectors. Since the Indigenisation and Economic Empowerment Act shaped the choices of both trusts and mining houses with regards to governance structures, financing approaches, stakeholder participation and programme objectives its revision has significant implications on the long-term sustainability and establishment of new community share ownership trust in the non-indigenized sectors.
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Research Support for National Economic Development