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March 22, 2010
Indigenisation law set to be revised
A controversial indigenisation law that has threatened to further destroy Zimbabwe's reputation as a safe investment zone, could be revised within the next few days.
The Indigenisation and Economic Empowerment regulations, passed under two year old legislation adopted by the ZANU PF government, requires businesses to inform the government of the racial make-up of their shareholders by mid-April. From there, the unity government would determine how much of their shareholding would need to be ceded to 'indigenous' Zimbabweans. The government would make this choice from a pre-decided list of 'suitable' indigenous shareholders, and business owners could face jail time if they don't comply.
Posted by StaffWriter at March 22, 2010 9:43 AM