RE: Government Ownership.18 Mar 2021 17:55
Narada---hope this helps :
The retrogressive nature of the policy results in loss of foreign investment and spurs mismanagement of state-owned productive assets and corruption, Hannah Onifade writes on Ventures Africa.
However, following its repeal last week, there are hopes the new business bill will pave the way for foreign investors wishing to establish operations in the country and help revive the economy deeply engrossed in crisis.
The indigenous Act, which initially stated that majority shareholding of public companies and any other business should be owned by indigenous Zimbabweans, was amended in 2018, applying to only companies involved in the diamond or platinum extractive industries and the economic sectors reserved for Zimbabwean citizens.
“In my humble view, the old Indigenization policy must be removed on the diamond and platinum sector as well. We can fix tax strangers but welcome them to open up businesses, bring technology and skills,” Busisa Moyo remarked.
Author
Ajifowoke Michael Gbenga
Published
March 11, 2019
Direct Link
Acker