According to a notice published by the commission, the company cannot sell its assets to foreign investors and it should not have two properties within a distance of 500m in the same road or street.
Among the orders given by the commission it says: The service stations to be disposed of by Total Zimbabwe to interested indigenous entrepreneurs should be those that became excess as a result of the merger in that the merged party ended up having more than one service station along the same road or street, or in the same area within a distance of 500m between the stations, reads part of the notice.
The notice goes on to order Total Zimbabwe to dispose of its remaining fuel depots to indigenous Zimbabweans.
It also orders the company to take over Mobile Oil Zimbabwes liabilities.
The merged entity should honour all agreements that Mobile Oil Zimbabwe had with other industry players on the use of mobile Oil Zimbabwes assets for their operations, reads the notice.
The Indigenization Act has triggered debate and become one of the sources of tension currently existing in the inclusive government with disagreements over issues like who is indigenous and who is not.
Post published in: News