Zimbabwe to tighten foreign companies

Zimbabwe to tighten foreign companies

Harare : Zimbabwe | Aug 19, 2011 at 3:19 AM PDT
Views: Pending
House Session 2011-05-12 (17:20:46-18:21:47)

Zimbabwe's government requires foreign companies to sell the majority of its shares to local partners, if they want to avoid seizing. Threatening letter sent to the Board requires companies to submit within two weeks of acceptable plans for the sale of shares, or they will lose their licenses.

Zimbabwe's new sopeutumislaki requires a ground-based and foreign companies to sell 51 percent of its shares in black patients in Zimbabwe. President Robert Mugabe is supported by the spring of last year, which came into force the law vigorously, because he believes it addresses the colonial period due to economic imbalances. Prime Minister Morgan Tsvangirai, in turn, afraid of the law to stop foreign investment in the country.

Threatening Letters have been sent at least six mining company, Barclays Bank, and the food giant Nestlé. Zimbabwean Herald newspaper that the companies have not yet responded to the demands.

1 of 4
Mugabe has led Zimbabwe since 1980
Mugabe has led Zimbabwe since 1980
zunairaumar is based in Karāchi, Sind, Pakistan, and is a Stringer on Allvoices.
Report Credibility
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear

News Stories

  • Zimbabwe: Mugabe Reprimands Followers For Booing Tsvangirai

      Africa Headlines
    Mugabe Stops Zanu PF Jeering Tsvangirai At Mujuru's Funeral 20 August 2011 President Robert Mugabe on Saturday departed from the norm and for the first time reprimanded his party followers in public, for booing Morgan Tsvangirai during the burial of...
  • Zimbabwe gives foreign firms empowerment ultimatum

      Daily Mail & Guardian
    Zimbabwe's government has given foreign firms, including mines and banks, a 14-day ultimatum to submit "acceptable" plans on how they propose to transfer majority stakes to local owners or risk losing permits, state media reported on Friday. The...
  • Zim bank chief hits out at Mugabe plan

      News 24
    11 Transport Minister Sbu Ndebele's statement that it was just a matter of time before the Gauteng toll system would be implemented, has incensed Cosatu. Aug 19 2011 13:49 Former Reserve Bank governor Tito Mboweni says while labour laws are correct,...
  • Mugabe urges rivals to shun violence

      Mail and Guardian
    Zimbabwean President Robert Mugabe on Saturday urged the country's political rivals to desist from violence ahead of elections whose date leaders have yet to agree upon. "Let's urge our people," Mugabe said at the burial of close aide Solomon Mujuru,...
  • Southern Africa: Zimbabwean Premier Leaves Luanda

      Africa Headlines
    To remind that Zimbabwean President Robert Mugabe, ahead of a ministerial delegation and senior officials, has already left the Angolan capital.
  • Zimbabwe: Tsvangirai to Address Rally in Mutare

      Africa Headlines
    Tsvangirai to Address Rally in Mutare Tererai Karimakwenda 19 August 2011 Prime Minster Morgan Tsvangirai is scheduled to address a rally at Sakubva Stadium in Mutare on Sunday, where the MDC-T said thousands of supporters are expected to turn out.



More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report

Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.