Zimbabwe’s President Robert Mugabe yesterday announced major changes to his government’s empowerment policy, indicating the controversial law could be amended to reflect softening local empowerment demands on foreign mines and banks.
Analysts have long criticised the policy, saying it has deterred the foreign direct investment Zimbabwe needs for its economic recovery. Conflicting policy pronouncements by officials, including Mugabe himself and government ministers, have not helped the situation, critics say.
Mugabe, who has been in power since Zimbabwe’s independence in 1980, signed the Indigenization and Economic Empowerment Act into law on March 9, 2008, days before general elections held that year, making it the centrepiece of his campaign.
Here are key events around the controversial law:
Continued next page
(191 VIEWS)
This post was last modified on April 13, 2016 9:51 am
The role of social media on how people get their news in Zimbabwe is being…
Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among…
The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…
Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…
The United States lost its place as the most influential global power in Africa last…
The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…