Cabinet approves Community Share Ownership Trust framework
STAFF WRITER
Cabinet has approved the implementation of the Community Share Ownership Trust Framework, a model set to drive inclusive economic growth and accelerate rural development.
The development was revealed by Information, Publicity and Broadcasting Services Minister Dr Jenfan Muswere.
Dr Muswere said the adoption of Community Economic Empowerment Trusts (CEETs) follows Government’s prioritisation of rural industrialisation as a cornerstone of national development. He stressed that the policy shift is in line with President Mnangagwa’s mantra of “leaving no one and no place behind.”
The trusts will mobilise investment in agro-processing, leverage agricultural value chains, and anchor Village Business Units being rolled out nationwide. Communities will also be supported to establish industrial parks in partnership with investors in their districts.
Dr Muswere said the Economic Empowerment and Indigenisation Act will be amended to align with the new thrust, providing stronger legal backing for trusts and positioning them as accelerators of Vision 2030.
“Furthermore, the proposed Economic Empowerment and Indigenisation Amendment Bill will be aligned with the Mines and Minerals Amendment Bill,” he said.
“The Implementation Framework for Community Share Ownership Trusts (CSOTs) aims to ensure that communities benefit from the extraction and exploitation of natural resources in their respective areas through revenue-sharing formulae. Companies that have complied with laws of the country by paying dividends to the Community Share Ownership Trusts under their jurisdiction will continue their operations while new entrants are subjected to the new requirements.”
