According to a report by the state-owned The Herald, the Zimbabwe government has directed foreign nationals operating in reserved sectors to submit regularisation plans by January 31, 2023, following the gazetting of Statutory Instrument 215 of 2025, which was published in an Extraordinary Government Gazette in December 2022.
The regulations, officially called the “Indigenisation and Economic Empowerment (Foreign Participation in Reserved Sectors) Regulations, 2025,” enhance the country’s policy of reserving parts of the economy for the African country’s citizens, apart from restricting the participation of foreigners.
The Herald claims that the new regulations mandate that foreign-owned companies in these industries specify how they will adhere to the indigenisation framework’s ownership and participation requirements.
The action is a part of larger initiatives by the Zimbabwean government to support local ownership and economic empowerment, especially in sectors of the economy that are thought to be accessible to local business owners.
According to a report published in December 2025 by IOL, Zimbabwe officially reserved 14 economic sectors for its citizens, demanding that foreign-owned businesses operating in specific sectors relinquish a majority, or 75%, stake to locals within three years.
Under the Indigenisation and Economic Empowerment (Foreign Participation in Reserved Sectors) Regulations, 2025 (Statutory Instrument 215 of 2025), foreign investors will be required to dispose of at least 25% of their equity on an annual basis, leading to a more rapid and accelerated localisation of ownership and control.
The Zimbabwe Broadcasting Corporation (ZBC), the state broadcaster, said the new law ring-fences ordinary sectors for local investors, including passenger transport services like taxis and buses, barber shops, hairdressing and beauty salons, bakeries, employment agencies, advertising agencies, tobacco grading and packaging, artisanal mining, borehole drilling, and pharmaceutical retailing.
The ZBC also reported that estate agencies, clearing and customs services, shipping and freight forwarding, and haulage and logistics are affected, with foreign participation only allowed under strict conditions or through recognised international brands and franchises.