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Home » Bid to flush out foreign ownership fronting
National Report

Bid to flush out foreign ownership fronting

written by Prisca Tshuma, Staff Writer 0 comments
Chief Director for Commerce and Consumer Affairs Douglas Runyowa
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THE Ministry of Industry and Commerce is set to inspect companies registered under locals in reserved sectors in a bid to curb ownership fronting. Statutory Instrument 215 of 2025 enforces the Indigenisation and Economic Empowerment Act, which requires locals to own 51 percent in designated businesses. The policy targets 14 reserved sectors, including retail, transportation…

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