Zimbabwe Presses On With Local Ownership Law-Minister

Zimbabwe is pressing ahead with plans to transfer control of foreign firms to local ownership despite objections that the policy would hurt the country's economic recovery, a minister said on Friday.

President Robert Mugabe's government in 2007 passed an indigenisation and economic empowerment law, before he formed a power-sharing administration with rival Morgan Tsvangirai last year, seeking to localise control of foreign firms.

Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere earlier this month directed all firms to provide details of their indigenisation plans, starting March 1, in a move that has split the unity government.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

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