July 15, 2015 IBOMLLC Team

Britain Says Zimbabwe’s Loosening Black Empowerment Rule Will Improve Investments

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Zimbabwe, the sleeping giant of central southern Africa, has seen its fair share of diplomatic stalemates, especially with the Western governments. President Robert Mugabe has aggressively championed the drive to empower more indigenous black Zimbabweans in a move to redress the imbalances caused during the colonial-era. A drive that is locally referred to in Zimbabwe as ‘indigenization’; the Mugabe administration is forcing foreign companies to sell their majority domestic stakes to black Zimbabwean investors.

This move championed by President Mugabe has seen him and his administration blacklisted from foreign investment and aid coming from Western governments. At the height of the country’s economic crisis between 2000-2008, many Big British companies left Mugabe pushed for the seizure of white-owned commercial farms in the country. This move made the relationship between Zimbabwe and her former colony, Britain become very frosty.

However, the tide could be changing if the report published last week by the British embassy is anything to go by. In the report the embassy said:

Despite continued mixed signals, there are encouraging signs that the government is softening its stance on indigenization and developing more investor friendly policies. …read more

Read more here:: Britain Says Zimbabwe’s Loosening Black Empowerment Rule Will Improve Investments

      

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