Zhuwao slammed over company closure threat

YOUTH, Indigenisation and Economic Empowerment minister Patrick Zhuwao has been slammed for pushing ahead with his hardline stance of seeking to close all foreign-owned companies that would have failed to pay empowerment levies by April 1 this year.

Zhuwao last week said he would not hesitate to shut down non-compliant firms when the deadline lapses.

Last October, Zhuwao said $93 million could be raised from the proposed 10% empowerment levy on companies that had not yet complied with the country’s indigenisation laws.

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