Harare, (New Ziana) – The Government has taken a bold step to breathe new life into the Community Share Ownership Trusts (CSOTs), a key pillar in the economic empowerment architecture of the country.
This follows the approval by Cabinet on Tuesday of new measures aimed at operationalising the CSOTs and strengthening the reserved sectors policy.
In 2010, the Zimbabwean government introduced Community Share Ownership Trusts (CSOTs) with the main objective of empowering communities, promote sustainable development, and foster social cohesion as part of its indigenization and economic empowerment policy.
These trusts are designed to ensure that local communities directly benefit from the exploitation of natural resources within their areas.
Speaking during a post-Cabinet media briefing in Harare, Minister of Information, Publicity and Broadcasting Services Dr Jenfan Muswere, said the move is part of ongoing efforts to ensure that local communities meaningfully benefit from the exploitation of natural resources in their areas.
“Cabinet considered and approved proposals on the Operationalisation of the Community Share Ownership Trusts and Reserved Sectors policy,” he said.
“The objective is to ensure that host communities are not left behind in the development matrix, particularly in areas where mining and other resource extraction activities take place.”
A total of 61 trusts were established, of which 58 were formally registered but several of these have either struggled to operate efficiently or collapsed due to weak implementation and lack of oversight.
In response, the Government will now undertake a comprehensive review of the implementation framework and extend corporate rescue support to those that are struggling, Dr Muswere said.
The revitalisation of the CSOTs signals a renewed commitment to grassroots empowerment and shared national prosperity with the measures expected to unlock the potential of local communities and foster a greater sense of ownership and responsibility.
New Ziana
