ANNOUNCEMENT 01 Mar 2010

In March 2010, the government of Zimbabwe announced changed rules for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Banya N. 2009. 'Zimbabwe proposes local ownership of foreign firms.' Reuters Africa. November 6. http://af.reuters.com/article/topNews/idAFJOE5A505020091106?pageNumber=1&virtualBrandChannel=0
UNCTAD report (in English), http://unctad.org/en/Docs/webdiaeia20115_en.pdf

BBC News, March 1st, 2010: http://news.bbc.co.uk/2/hi/business/8542966.stm


Inception date: 01 Mar 2010 | Removal date: open ended

FDI: Entry and ownership rule

The Zimbabwean government is said to be contemplating a 51% 'indigenous Zimbabwean' ownership of all foreign companies (with an asset value of above US$500,000) including mines and banks in a legislation prepared by the Ministry of Youth Development, Indigenisation and Empowerment.
 
Update 15-05-2013:
 
The implementation of the Indigenisation and Economic Empowerment Act requires allnon­indigenous mining businesses to submit an indigenisation implementation plan to the Minister within 45 days of the date of the notice. Such plans, once approved by the Minister, must be implemented within six months of the date of the notice.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A