Government Has Approved Community Share Ownership Trust Framework

The Government has approved the Implementation of the Community Share Ownership Trust (CSOT) Framework, a move aimed at promoting rural industrialisation and inclusive economic growth in line with President Mnangagwa’s vision of “leaving no one and no place behind.”

Under this framework, Community Economic Empowerment Trusts (CEETs) will be set up in every district to drive local development.

According to the Minister of Information Pblicity and Broadcasting Services Dr. J. Muswere, during a Cabinet briefing, the trusts are of great importance to Zimbabwe.

“These trusts will attract investments, especially in agro-processing and Village Business Units, and will also establish industrial parks in partnership with investors.

“To support this, the Economic Empowerment and Indigenisation Act will be amended and aligned with the Mines and Minerals Amendment Bill, ensuring that communities directly benefit from natural resources through revenue sharing,” said Dr. Muswere.

Companies already paying dividends to CSOTs will continue operating, while new investors will follow the updated rules.

The framework is built on six key pillars:

1. Shifting from CSOTs to CEETs.

2. One District One CEET initiative.

3. Revenue sharing.

4. Rural industrialisation and local enterprise development.

5. Strong governance and administration.

6. Institutional capacity building.

“Women, youths, persons with disabilities, war veterans, and SMEs will play a key role in this process to ensure fair participation and empowerment,” Dr. Muswere added.