The Minister of Finance and Economic Development in his 2018 National Budget Speech titled ‘’A New Economic Order’’ first announced the proposed amendments to the Indigenisation and Economic Empowerment Act. This signified wholesale changes with the effect that the new approach towards indigenisation and economic empowerment would be more narrowly construed. This policy pronouncement has now been ratified and codified by means of the amendment to the underlying policy, through the Finance Act (No.1), 2018 which was passed into law on 14 March, 2018. 

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