Saviour Kasukuwere

Barclays’s Plan for Black Ownership in Zimbabwe Needs More Work

Barclays Plc’s plan to increase black ownership of its Zimbabwean unit needs further work, said the country’s Indigenization Minister Saviour Kasukuwere.

Barclays Africa to Meet Zimbabwe’s Indigenization Minister

Zimbabwean Indigenization Minister Saviour Kasukuwere said he will meet Barclays Africa Chief Executive Officer Kennedy Bungane about plans by the lender’s local unit to sell a majority stake to black citizens by June.

Mugabe Seizing Impala Assets Impales Bonds: South Africa Credit

Impala Platinum Holdings Ltd.’s yields climbed to within two basis points of a record after Zimbabwe said the company’s unit in the nation must cede 51 percent ownership to the country without compensation.

Zimbabwe Says It Won’t Compensate Impala for Zimplats Stake

Impala Platinum Holdings Ltd.’s Zimbabwean unit must cede 51 percent ownership to the country without compensation, Zimbabwe Indigenization Minister Saviour Kasukuwere said.

Zimbabwe to Increase Royalties Payable by Platinum Miners

Zimbabwe plans to raise royalties payable by platinum miners to make producers process the metal in the country, Mines Minister Obert Mpofu said.

Zimbabwe’s $4 Billion Sovereign Fund Questioned by Analysts

Zimbabwean Indigenization Minister Saviour Kasukuwere’s assertion that a sovereign wealth fund created from stakes ceded by foreign-owned companies is worth $4 billion was questioned by economists who said the announcement may be aimed at securing votes ahead of elections.

Zimbabwe Minister to Probe Anglo, Aquarius, Impala Agreements

Zimbabwe deals agreed by Aquarius Platinum Ltd., Anglo American Plc and Zimplats Holdings Ltd. to meet state demands they sell assets to locals will be probed, said Finance Minister Tendai Biti, who opposes the policy.

Zimbabwe Threatens to Cancel Company Licenses Due to Black Ownership Rules

Zimbabwe may cancel business licenses held by foreign-owned companies if they don’t comply with a requirement to cede 51 percent ownership to black Zimbabweans, Empowerment Minister Saviour Kasukuwere said.

Impala Platinum Fails to Meet Zimbabwe Mine-Ownership Laws, Minister Says

Impala Platinum Holdings Ltd.’s Zimbabwean unit, known as Zimplats, has failed to meet new laws on asset ownership and may have its mining license revoked, according to Indigenization Minister Saviour Kasukuwere.

Zimbabwe Plans Mining Sovereign Wealth Fund, Minister Kasukuwere Says

Zimbabwe, which is compelling foreign-owned companies to cede control of their businesses to black citizens of the country, plans to establish a sovereign wealth fund that will hold stakes in mining companies.

"We're not unhappy with their plan, but it needs further work and tidying up."

- Saviour Kasukuwere on Mar 28, 2013

Zimbabwe

South Africa

Robert Mugabe

Tendai Biti

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