Story by Owen Mandovha
AT least 24 community share ownership trusts will be launched this year under the Government Economic Empowerment Policy, meant to empower citizens and rural communities.
The Portfolio Committee on Industry and Commerce summoned the Minister of Industry and Commerce, Honourable Mangaliso Ndlovu, this Wednesday, seeking to find out progress on issues regarding the empowerment of citizens, ranging from the state of community share ownership trusts, implementation of the reserved sectors policy and the passing of the Economic Empowerment Bill.
“We have resources that are finite, and our communities and people must benefit, hence the Ministry needed to update us on progress in relation to the revival of CSOS, which many have become dormant. Progress with regards to implementation of reserved sectors is also of concern, which we need the Minister to tell us progress with regards to that,” Chairperson, Parliamentary Portfolio Committee on Industry and Commerce, Honourable Clemence Chiduwa said.
Minister Ndlovu addressed committee members on strides made so far and announced the imminent launch of 24 community share ownership schemes by the end of the year.
“We are targeting to launch 24 CSOS by the end of the year, translating to three in each of the applicable provinces. We have discarded the 10 percent share ownership model in favour of the two percent share of total revenue earned,” he said.
The Minister also addressed the repeal of the Indigenisation and Empowerment Policy and additional measures being undertaken to accelerate the enactment of laws that enhance the empowerment of citizens.
