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Mugabe: Zimbabwe to soften controversial foreign company law
Source: BBC
Mugabe: Zimbabwe to soften controversial foreign company law
6 October 2016 Africa
Zimbabwean President Robert Mugabe has announced plans to water down a contentious law obliging foreign companies to hand over most of their shares to black Zimbabweans.
The "indigenisation law" has been blamed for choking off investment.
It has never been fully implemented and Mr Mugabe has previously said many sectors of the economy are exempt.
But it has been widely criticised, including by the IMF, for contributing to the collapse of the economy.
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6 October 2016 Africa
Zimbabwean President Robert Mugabe has announced plans to water down a contentious law obliging foreign companies to hand over most of their shares to black Zimbabweans.
The "indigenisation law" has been blamed for choking off investment.
It has never been fully implemented and Mr Mugabe has previously said many sectors of the economy are exempt.
But it has been widely criticised, including by the IMF, for contributing to the collapse of the economy.
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Read more: http://www.bbc.com/news/world-africa-37581628