Zimbabwe: MDC Forces U-Turn in Indigenisation Rules

source: allAfrica
Zimbabwe Standard (Harare)
Vusumuzi Sifile
20 March 2010

Harare — YOUTH Development, Indigenisation and Empowerment Minister, Saviour Kasukuwere has been forced to revise close to a dozen provisions of his controversial empowerment regulations announced in January.

Kasukuwere caused a political storm when he introduced the regulations that among other things compelled all foreign companies to cede at least 51% of their shares to indigenous Zimbabweans.

He ignored repeated MDC calls to widen the consultation window before effecting the regulations.

While up to now Kasukuwere still claims there is “no going back” on the regulations, impeccable sources confirmed that he has under pressure from both MDC formations and other stakeholders “revised at least 10 provisions, which is as good as rewriting the regulations”.

The revised regulations would be presented to [continue reading]

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