Zimbabwe: How New Empowerment Laws Will Affect Business

source: allAfrica
TradeInvest Africa (Cape Town)
Luke Zunga
8 March 2010
interview

Zimbabwe’s new empowerment law that compels foreign-owned companies to give-up a 51% stake in their businesses to black Zimbabweans was greeted with shock by investors when first announced.

The law officially took effect on 1 March but was allegedly published prematurely without the cabinet legal committee’s input or approval. According to some newspaper reports the government is now revising the regulation. TradeInvest Africa asked Luke Zunga from the Zimbabwe Diaspora Development Chamber about the effect that the empowerment law will have on business and investment in the country.

Give us a brief overview of Zimbabwe’s new empowerment regulations.

Events in Zimbabwe must not be taken in isolation but in overall context, starting with the constitutional referendum in 1999. Prior to the [continue reading]

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