SA firms `protected` in Zim

source: Fin24
Feb 10 2010 20:51

Johannesburg – A bilateral investment treaty signed recently between SA and Zimbabwe will protect future investors where expropriation and compensation are involved, a law firm said on Wednesday.

“The treaty offers South Africans with investments in Zimbabwe the best protection yet,” Werksmans Attorneys director Roger Wakefield said in a statement.

“There is no doubt that this provision gives South African investors much more clout to protect their assets in Zimbabwe.” The treaty protected investors affected by expropriation after November 27 2009, the date on which the agreement was signed.

“Although it does not assist South Africans who have already lost investments in Zimbabwe, the Bilateral Investment Promotion and Protection Agreement does at least provide protection [in future].”

According to the treaty investments may not be nationalised or [continue reading]

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