31 Aug 2017

Ministry of Investment, Trade and Industry has appealed to retail stores operating in the country to work out comprehensive programmes that will see the empowerment of citizens through the creation of supply chain linkages. 

A press release from the ministry states that retail in general clothing has been reserved for citizens in accordance with the Trade Act. 

However, exemptions have been made where there are joint ventures between citizens and non-citizens, where citizens own majority shares.

“Where the citizen ownership falls below this threshold, the minister’s approval is required for an exemption to be granted,” the release states. 

It states that engagement of supply chain was gradually bringing results as some of the retailers have made commitments and have held workshops with citizen companies, empowering them. 

Through these commitments, it says foreign companies will conclude supply or design agreements with qualifying local manufacturers and designers to supply the foreign retailers with the requisite goods or services. 

Further, it states that the ministry has so far found it fitting to grant exemptions to five retailers to operate in the reserved business space. 

The ministry has appealed to citizens and citizen-owned companies to tap into these opportunities availed to them by the chain stores and harness their abilities to build partnerships to develop the local industry. ENDS