The CSOTS are also mandated to provide youth employment and poverty alleviation projects in their areas.
Already, substantial progress has been made by CSOTs in the Shurugwi, Zvishavane, Gwanda, Mhondoro-Ngezi, Chegutu, Zvimba and Bindura districts.
Besides the CSOTs, the JEEP legislation also makes room for Employee Share Ownership Schemes/Trusts (WSOTs), which will hold at least 5% (and in some cases as much as 28%) shareholding in qualifying companies they work for.
Taking the CSOTs' 10% and the WSOTs' 5% together from the State's 51% equity share in qualifying companies, a good 36% remains in state hands, and the monetary value of this goes into a National Indigenisation and Economic Empowerment Fund (NIEEF) which will later be turned into a Sovereign Wealth Fund for the country.
Heller, MS, LPC, LMFT candidate, CSOTS
, is a psychology technician at the Regional Corrections Facility, Fort Sill, Okla.
Equalisation Process: Because not all districts of the country have significant natural resources from which CSOTs can generate revenue for the local communities, an Equalisation Process makes room for the government to distribute resources from mineral-rich communities to other less-endowed communities, using the National Indigenisation and Economic Empowerment Fund (NIEEF).
Seed capital: This is an amount of money, in the form of a donation, which is given to a CSOT by a qualifying company operating in its area, to enable it to begin its operations.