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President Mugabe

Zimbabwe Promotes ‘Indigenization Policy’, warns foreign firms to vacate
 
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Sat, 23 Nov 2013   ||   Nigeria,
 

Zimbabwe-The Zimbabwean government yesterday has announced that the owners of foreign firms operating in certain sectors in Zimbabwe after 1 January 2014 will be arrested.

George Magosvongwe, Economic Empowerment Secretary issued the warning in parliament.

According to report, "Indigenisation" of the economy was one of President Robert Mugabe's main campaign themes in the March election.

He stated that farming, hairdressing and baking are among the sectors now reserved for "indigenous", or black, Zimbabweans.

"1 January is a month to come and we are putting in place measures for enforcement in the event that they do not comply,” he said.

Mr. George further stated that Zimbabweans were being identified to take over businesses to prevent shortages of goods.

 Reserved sectors of the economy were stated to include: Retail and wholesale business, hairdressers, beauty salons, bakers, employment agencies, agriculture, transport, estate agencies and advertising agencies.

It said that foreign-owned restaurants which did not serve local food would not be affected.

Owners of businesses without indigenisation compliance certificates face a fine or imprisonment if they are still operating, adding that the certificates are only given to local people.

President Mugabe says his policies are needed because under colonial rule, many economic sectors were reserved for white people.

Critics however say that his seizure of most of the country's white-owned land has ruined what used to be one of Africa's most developed economies.

 

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