Zimbabwe: indigenization reforms, preserving a $4 billion investment deal

Zimbabwean Finance Minister Mthuli Ncube stated his government is ending indigenous ownership requirements for foreign investment in the country’s platinum mining sector. Ncube added that local ownership requirements may be similarly removed from Zimbabwe’s diamond sector. Indigenous ownership requirements were introduced by the Zimbabwean government in 2008 as a means of empowering the country’s citizenry to actively participate in the nation’s economy. The motive on the part of the ruling Zimbabwe African National Union-Patriotic Front (ZANU-PF) was political and came in the context of steep declines in popularity and the government’s near-loss to the opposition Movement for Democratic Change then …

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