Home » Governance » JB Matiza Threatens Foreign-Owned Firms

MASHONALAND EAST provincial affairs minister, Joel Biggie Matiza, has threatened to take unspecified action against foreign-owned companies in the province if they fail to release US$10 million through the government’s Community Share Ownership Trust (CSOT) scheme.

Matiza said that there is only one foreign-owned company in the province from an estimated eight firms that has so far complied with the government’s CSOT’s regulations.

“Some of the companies have not complied yet. Only one company, Lafarge, has complied,” Matiza said.

Lafarge Cement Zimbabwe has pledged US$3 million towards the Mashonaland East community share ownership fund to meet the requirements of the country’s economic and empowerment regulations.

According to Matiza companies such as Imire Game Park, Natural Stone, CRG, Zimbabwe International Quarries, Ilford Red and Quarrying Enterprises have not complied with the country’s regulations.

“We stand to get an estimated US$10 million from the companies and this will do much in developing the community. We want something that can benefit the community. We are going to summon them all and map the way forward,” Matiza said adding that he will, next week, visit Mutoko granite operations and access operations there.

Matiza also queried why Mashonaland East remained the only province in the country where President Robert Mugabe has not officially launched the CSOT scheme.

“This province is the only one in the country that has not launched a CSOT. President Robert Mugabe launched CSOTs in all other provinces, why not Mashonaland East?” Matiza asked.

Source : New Zimbabwe