Zimbabwe: who’s next for ‘localisation’?
For two years Robert Mugabe’s Zanu-PF has been ratcheting up the pressure on foreign-owned firms demanding that they dispose of a minimum of 51 per cent of their shares to indigenous Zimbabweans. This...
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More bluster than substance in Zimbabwe’s indigenisation threat to banks
The Zimbabwe government’s latest threat to foreign business – this time foreign banks – is seen in Harare as bluster rather than substance. The instruction by Saviour Kasukuwere, minister for...
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BAT Zimbabwe: ready to deliver on local ownership, but is the government?
Zimbabwe’s indigenisation law, which requires foreign companies to be 51 per cent owned by a local partner, was always going to be tricky to implement. Cigarette maker British American Tobacco Zimbabwe...
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Zimbabwe mining: mixed messages and wishful thinking
Ever since the Zimbabwe government published its plans to localise majority ownership of the country’s mines, mixed messages have dominated the debate over investment and growth. Last week was no...
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Zimbabwe: Impala strikes $971m black ownership deal
Impala Platinum on Friday finally announced the long-awaited terms of its deal to sell a majority stake in its Zimbabwe operation to local black investors in response to president Robert Mugabe’s...
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Zimbabwe’s indigenisation policy: falling apart?
Zimbabwe’s beleaguered indigenisation policy has been dealt several big blows in the last few days. Alleged corruption, arguments over deal fees, calls for a parliamentary probe – and to top it all,...
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Zimbabwe: the next vote will have the economy at stake
On its own, the overwhelming “Yes” vote in Zimbabwe’s referendum on a new constitution means little. Indeed, it is no more than the first act of a drama that will unfold over the next few months as the...
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Zimbabwe: FDI takes a dive as indigenisation policy puts investors off
Investors appear to be getting pretty jittery about placing their money in projects in Zimbabwe, as official foreign direct investment figures from a government agency indicate. After the country’s...
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Zimbabwe: government plans to tighten further its grip on mining
Zimbabwe this week started consultations on proposed new mining policies aimed at increasing the state’s role in the industry in everything from environmental management to marketing. The move echoes...
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Zimbabwe: ‘Hurricane Closure’ highlights business slump
At least someone is selling In just under two weeks the Confederation of Zimbabwe Industries (CZI) is due to hold its annual congress. The main focus will be restoring growth at a time when factories...
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Zimbabwe’s mining bond vs its bad boy reputation
Zimbabwe is increasingly pinning its hopes on its mining industry to beef up the government coffers. The government is keen to tap into the sector’s huge potential – it holds the second largest...
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Zimbabwe ducks wage bill pledge in new budget
Nobody expected more than a status quo budget from Zimbabwe finance minister Patrick Chinamasa when he presented his plans for 2015 this week. With revenue declining and the economy expected to...
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