The Zimbabwean government is working on scrapping the Indigenisation Act which restricts foreign shareholding in platinum and diamond ventures to 49% as the country seeks to attract foreign capital, Finance minister Mthuli Ncube has said.
“You can own 100% of any mining investment, any investment in Zimbabwe, that is what is coming through. We are removing that indigenisation rule, which is discouraging foreign direct investment (FDI). Zimbabwe is open for business. It can only be opened for business if you are allowed to own 100% of the investment as an investor,” he said.
Zimbabwe Miners’ Federation president Henrietta Rushwaya said what Ncube stated in his interview was a welcome development.
“This is a very welcome development. This will increase our FDI since more investors will come to invest in Zimbabwe and our imports will plummet, thereby increasing our GDP (gross domestic product) as a country. This also resonates well with our Zimbabwe is open for business mantra,” she said.Newsday
Kaizer Chiefs coach Cedric Kaze has urged patience and composure after the club’s poor run… Read More
Kaizer Chiefs have suffered a major setback with two experienced players injured. Both Brandon Petersen… Read More
Premier Soccer League giants Kaizer Chiefs have reportedly set their sights on Nigeria international goalkeeper… Read More
Kaizer Chiefs’ preparations for the Soweto Derby were severely disrupted before kick-off, a reality that… Read More
Kaizer Chiefs registered a second successive victory in the CAF Confederation Cup group stages after… Read More
Across Africa, vehicle buyers and importers are discovering a new way to connect — through … Read More