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November 6, 2009
Zimbabwe targets foreign companies
Zimbabwe plans a swift transfer of ownership of foreign companies to locals, forcing foreigners to sell 51% of their shares to locals within 60 days of publication of a set of new empowerment regulations.
According to a confidential draft obtained by the M&G on Thursday, the government will target foreign companies valued at $500 000 and above. The campanies will be forced to transfer ownership to black "indigenous" investors almost immediately after publication of the regulations.
Posted by StaffWriter at November 6, 2009 8:09 AM