MinBane

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Archive for the tag “Local Business”

Buganda Kingdom and Uganda Breweries Limited launched Ngule Beer today

Mission accomplished! We are proud to add to our stable of world-class brands, Ngule- a high quality and affordable beer, brewed in partnership with Buganda Kingdom. Brewed from local ingredients i.e cassava, sorghum and water, Ngule is yet another example of how our business creates sustainable growth and development of local communities through fostering an enterprise culture throughout our value chain and sourcing from local businesses that in turn creates jobs and uplifts household incomes.

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Zimbabwe amends indigenization law (Youtube-clip 26.12.15)

“Zimbabwe has eased the terms of a controversial law that forces foreign companies to cede a majority stake to local investors. The move now signals an attempt to shore up the country’s moribund economy that has been on a downturn for more than a decade now.The amendments now allow foreign entities to hold majority stock in business up to five years with an exception of up to 20 years in the energy sector. Existing foreign-owned companies may also continue to operate in all sectors of the economy but shall be required to pay an indigenisation compliance levy as a trade-off for non-compliance. The Indigenization and Economic Empowerment Act of 2007 law was an initiative by President Robert Mugabe to benefit Zimbabwe’s majority black population disadvantaged by colonial rule” (CCTV Africa, 2015).

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