3-mob.com 
Zimbabwe has announced that it will ban all companies that have not complied with its indigenisation law.
Empowerment Minister Patrick Zhuwao put it simply:
It’s either you comply or you close shop
He added that that businesses continued to disregard the deadlines set for compliance with the Indeginsation and empowerment act of 2008.
The latest deadline is March 20116 and it seems as as if Zhuwao is not feeling like extending ot. Companies therefore have to submit their plans to sell at least 51% of their shares to locals before that date or risk getting kicked out.
Zhuwao has had a seemingly tenuous relationship with finance minister Patrick Chinamasa with the latter seemingly in favour of a moderate approach on the issue in a bid to woo foreign investment.
There have been agreements over implementation and it would seem they are singing off the same page but it would be interesting to see what the reaction will be here. And the fact that this is a unanimous cabinet decision means Zimbabwe is now fed up with the cat and mouse game.
It’s crazy…
After all existing major mines and big banks are at risk.
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