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By Bridget Mananavire The indigenisation policy, which has been largely blamed for scaring away investors, has exposed government’s confusion and inconsistencies, as President Robert Mugabe last week tasked parliamentarians to amend the law. The flawed and controversial law has been prone to misinterpretations, with Cabinet ministers routinely at each other’s throats, disagreeing on how to interpret […]
Indigenisation minister Patrick Zhuwao accepted that he “misinterpreted” aspects of the indigenisation policy, adding he respectfully accepted President Robert Mugabe’s policy statement as the new “directive” his ministry would take.
Zimbabwe’s black empowerment policy that aims to transfer majority shares from foreign-owned firms to locals is confusing potential investors and makes it hard to compete for foreign investment, President Robert Mugabe said on Tuesday.
By Fungi Kwaramba Damaging discord has once again emerged in President Robert Mugabe’s Cabinet, with two ministers Patrick Chinamasa and Patrick Zhuwao reading from entirely different scripts on the country’s contentious indigenisation framework. So wide has the gulf between the two bigwigs become that Chinamasa, who is the minister of Finance, apparently walked out of […]
By Phillimon Mhlanga Youth, Indigenisation and Economic Empowerment Minister, Patrick Zhuwao, says he has finalised plans to implement the contentious indigenisation and economic empowerment policy, with proposals for hefty penalties against defaulting firms. The new measures are expected to be gazetted before Christmas and are likely to apply in retrospect, he said. Cabinet recently tasked Zhuwao, who […]
By Phillimon Mhlanga GOVERNMENT has abandoned its populist indigenisation policy in a desperate attempt to lure offshore capital required to revive the country’s disintegrating economy, the Financial Gazette can report. The move is meant to bailout a sick and struggling economy, which has suffered from widespread company closures and job losses, estimated to have pushed […]
HARARE – President Robert Mugabe’s government has indigenised 185 mining firms out of a total 405 applications, businessdaily has learnt.
HARARE – As Zimbabwe hurtles towards more economic problems, leading economist and journalist John Robertson believes President Robert Mugabe’s administration is running out of time to fix the economy.
The Zimbabwe Stock Exchange (ZSE) last week ended its losing streak as trades rebounded across the board from Wednesday following reports that government would relax its empowerment policies to improve the investment climate.