Published: 08 October 2013

Government has warned individuals and businesses who submit false information in their indigenisation plans. The Minister of Youths, Indigenisation and Empowerment Francis Nhema said fronting and submitting false information about indigenisation was a serious crime and those caught will be severely punished.

"Some people submitting indigenisation plans declare false information and they claim to have certain shares in some businesses when in actual fact they do not have anything," he said in an interview yesterday at the National Defence College.

"We have some cases where people can actually use their gardeners and maids as business partners, but let me warn that fronting and the furnishing of false information in the declaration form or indigenisation plan is a criminal offence and punishable by a fine not exceeding level twelve or imprisonment for a period not exceeding five years or both."

Minister Nhema said the indigenisation and economic empowerment law was not intended to stifle foreign investment, but to ensure locals benefited from their resources.
- herald

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