Blocked Funds

Legacy Debt Resolution under the Finance Act No. 7 of 2021 INTRODUCTION  During the period of Zimbabwe’s multi-currency regime that was ushered in November 2008 by the then Acting Minister of Finance Hon. Chinamasa and continued for close to a decade, public and private entities procured goods and services from entities outside the country that […]

When Banks Fail

An analysis of the Banking Act (Chapter 24:20) INTRODUCTION  In 2015, the Banking Amendment Act (Act 12 of 2015) brought with it various amendments to the Banking Act (Chapter 24:20), key among these being the introduction of principles of corporate governance, as well as extending the regulatory role of the Reserve Bank to companies that […]

Use It or Lose It

The ‘Use It or Lose It’ Policy in the mining sector INTRODUCTION In terms of Section 2 of the Mines and Minerals Act (Chapter 21:05), the ownership, control, exploitation and disposal of all minerals, mineral oils and natural gases is vested in the President of the Republic of Zimbabwe. It is the responsibility of the […]

Forfeiture of Mining Locations

Forfeiture of Mining Locations INTRODUCTION Forfeiture is a legal process that allows the Mining Commissioner to take away a mining location from an unproductive owner and open it up for relocation or acquisition by another individual. Loosely interpreted, forfeiture is the loss of one’s mining location due to non-compliance with the law. It is one […]

Guardianship of Minors Amendment Act

Summary of the Guardianship of Minors Amendment Act 2 of 2022 The Guardianship of Minors Act (Chapter 5:08) was promulgated to protect the rights of children upon divorce or separation of their parents. The Guardianship of Minors Amendment Act 2 of 2022, amends sections 3, 4 and 5 of the Act.  Section 2 of the […]

The Consumer Protection Act

The Consumer Protection Act: What the Consumer Needs to Know INTRODUCTION “All sales are final and non-refundable” policies are popular amongst a number of boutiques and shops. Many businesses choose to institute this type of policy to save themselves time and money. Consumers in Zimbabwe often fall prey to inappropriate marketing strategies, improper business practices […]

Copyright

Copyright: Registration and Protections INTRODUCTION Intellectual property has become one of the most renowned drivers of economic growth globally as most countries are moving from traditional resource-based economies to knowledge-based economies. There are four types of intellectual property, namely, patents, trademarks, copyrights, and trade secrets. Due to the current surge in the number of artists […]

Real Estate Investment Trusts (REITs)

Real Estate Investment Trusts (REITs)

Understanding Real Estate Investment Trusts in Zimbabwe DEFINING REAL ESTATE INVESTMENT TRUSTS (REITs) Real Estate Investment Trusts (REITs) are regulated investment vehicles that enable collective investment in real estate. Investors pool their funds and invest in a trust that is divided into units, with the intention of earning profits or income from real estate, as […]

A Sectional Title Developer’s role

The Role of Developers in Sectional Title Developments

The Role of Developers in Sectional Title Developments INTRODUCTION The rapid growth of sectional title developments in Zimbabwe has opened the door for developers to explore new opportunities in property development and to reap considerable profits in the expanded real estate market. Increased security, affordability and the communal lifestyle are all alluring aspects when potential […]

COMMENTARY ON CERTAIN ASPECTS PROVIDED UNDER THE LABOUR AMENDMENT BILL, 2021

Various amendments to the Labour Act (Chapter 28:01) hereinafter called “the Act”, are being crafted and the relevant Bill was approved by the Cabinet.2 We took the opportunity to go through the Bill and we saw interesting aspects of this proposed law. In this commentary, we will concentrate on aspects that we consider more controversial such as the changes that are going to affect fixed-term contracts, collective bargaining, powers of designated agents and labour officers, and retrenchment. These are aspects that affect the employer and the employee on a day-to-day basis. Besides outlining what the Bill is providing, in certain circumstances, we took the opportunity to respectfully highlight the strengths that are going to come with the Bill. We have also respectfully outlined what we consider to be the shortcomings in the Bill. We trust you will enjoy reading this commentary.