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Indigenisation law delayed
Thu, 15 Apr 2010 08:56
By TradeInvest Africa Staff



Zimbabwe’s mostly white-owned businesses won’t immediately have to comply with a law that requires them to hand over 51% control to black people.

The government says the implementation of the law will be delayed for further discussions.

The law was passed in 2008, when parliament was still largely dominated by President Robert Mugabe’s ZANU-PF. Opposition lawmakers however say its bad for the recovering economy, and will scare investors.

It mainly affects local businesses,  but foreign investors are also required to meet an empowerment quota.

 

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