Kasukuwere awarded Brainworks gvt advisory, $100m deal , without tender

Kasukuwere awarded Brainworks gvt advisory, $100m  deal , without   tender

PRIVATE equity group, Brainworks Capital, expected  to earn a healthy $100 million when it was contracted to advise the government in its bid to force foreign mining companies to comply with the country’s indigenisation laws. The company was awarded the deal by a department in the empowerment ministry then headed by Saviour Kasukuwere without going to tender. “It’s not our duty to know whether there was supposed to be tenders or not,” Brainworks’ chief executive,…

Read More

‘Only 1 indigenisation transaction concluded, & all major mining deals ‘abandoned’,

‘Only 1 indigenisation transaction concluded, & all major mining deals ‘abandoned’,

ADVISORY firm Brainworks Capital on Thursday said only one indigenisation deal had been consummated by government, while transactions worth over $1 billion with major platinum mining firms Anglo American Platinum, Impala and Aquarius had been abandoned. Zimbabwe’s Indigenization Act — enacted in 2008 — requires foreign owned companies valued at over $500,000 to cede 51 percent to black locals. The local ownership law has been cited as a major impediment to foreign investment in an…

Read More