Laws too strict

HARARE - Traders and stakeholders who attended a one day indigenization and economic empowerment regulations meeting slammed the countries investment laws for being too stringent on domestic investors.

It is difficult to obtain an operating license from local authorities as there are a number of procedures to follow and this sometimes means bribing the licensing officers. However, the same cannot be said of Nigerians and Chinese nationals who have opened shops throughout the city, said one participant at the meeting.

The traders expressed fear that the law, if implemented under existing conditions, will only serve to benefit those with capital.

Dr Desire Sibanda, Permanent Secretary in the ministry of Indigenization and Economic empowerment, said there were plans in government to come up with a domestic investment policy which would address issues of capital availability and knowledge dissemination to indigenous people.

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