Business

Government Must Clarify Indigenisation Policy

Zimbabwe’s Indigenisation policy has been widely criticised as among the major deterrents to foreign capital inflow into a country that requires investment to revive the economy and save industry from collapse. Analysts argue there is need for clarity on the law to enable investors to make informed decisions. As the …

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Zimbabwe Catches Investors’ Attention as Controversial Law is Reviewed

President Robert Mugabe’s government will review controversial legislation that has deterred foreign investment and dented Zimbabwe’s economy, an official says. The administration is setting up a special task force to amend the so-called indigenization law, which requires foreign-owned companies to cede a 51% stake in their business to locals, said …

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Key to Zimbabwe’s Economic Renaissance

WATER is to the 21st Century what oil was to the 20th Century: the commodity that determines the wealth and stability of nations. When President Robert Mugabe first became President of Zimbabwe, he launched an ambitious development programme of the nation’s water supply and sanitation infrastructure. By 2000, the levels …

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Vimpelcom struggles to offload Telecel Zimbabwe

Amsterdam-based international Vimpelcom is reportedly struggling to offload its Telecel Globe assets, despite agreeing to sell the company to Niel Telecom for around EUR75 million (USD102 million), TMT Finance reports. According to the article, Luxembourg-based emerging market telecom venture, Niel Telecom agreed to acquire Telecel Globe, which encompasses U-COM Burundi …

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Padenga Holding Will Meet 43,000 Crocodile Target

Padenga Holdings Ltd., a crocodile-farming unit of Innscor Africa Ltd., will meet its target of 43,000 hides this year. The company, based on Lake Kariba in northern Zimbabwe, will kill over 40,000 crocodiles with an average 36.6 centimeter (14.4 inch) belly width, Gary Sharp, chief executive, said at a company …

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