No Foregin Businesses in Zimbabwe
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- ThomasZD
- added this
A new Zimbabwean law that forces companies to sell a majority stake in their businesses to indigenous people has come into effect.
Firms worth more than $500,000 (£332,000) run by non-indigenous people have five years to sell a 51% stake, upon the threat of jail sentences.
Harare-based economist John Robertson told the BBC's Network Africa programme that it was "a very bad idea".
He said it would only deter further badly-needed foreign investment.
"The government appears to have no wish at all to make the country attractive to the [overseas] investors," said Mr Robertson.
http://news.bbc.co.uk/2/hi/8542966.stm
Firms worth more than $500,000 (£332,000) run by non-indigenous people have five years to sell a 51% stake, upon the threat of jail sentences.
Harare-based economist John Robertson told the BBC's Network Africa programme that it was "a very bad idea".
He said it would only deter further badly-needed foreign investment.
"The government appears to have no wish at all to make the country attractive to the [overseas] investors," said Mr Robertson.
http://news.bbc.co.uk/2/hi/8542966.stm
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- groups:
- Community, The Humanitarians
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- tags:
- Economy, Unemployment, Zimbabwe
