Mugabe approves majority share allotment to “indigenous” Zimbabweans


Reading time 2 min.
Mugabe approves majority share allotment to “indigenous” Zimbabweans

President Robert Mugabe of Zimbabwe has approved a law that forces foreign companies to surrender at least 51 per cent control to “indigenous” Zimbabweans. The law which was put forward last year, defined the “indigenous Zimbabwean “ as any person who, before the 18th April, 1980, was disadvantaged by unfair discrimination on the grounds of his or her race, and any descendant of such person.” This law would mean several companies including, mining companies, phone companies, banks etc would have to relinquish control, unless the Minister of State for Indigenisation and Empowerment alters the share allotment.

International  International news in general
Support Follow Afrik-News on Google News