[QODLink]
Inside Story
The indigenisation of Zimbabwe
Will Zimbabwe's controversial new law offer 'economic emancipation' or just further weaken an already battered economy?
Last Modified: 28 Sep 2011 12:36

It is a country on the brink of an economic meltdown, and the latest controversial reform could move Zimbabwe closer to the edge.

The new indigenisation law requires all companies valued at more than $500,000 to sell 51 per cent stakes to black Zimbabweans. Firms had until Sunday to comply. 

Zimplats, the country's largest platinum mining company, along with British American Tobacco, Nestle, Cargill, Barclays and Standard Chartered Bank had all been given 14 days to hand over the majority share of their companies.

The government said on Monday that they are deciding how to deal with those who have failed to do so, having already rejected Standard Chartered's offer to cede 10 per cent. 

But this final phase of what has been dubbed "economic emancipation" - a process which began over a decade ago - has left many in Zimbabwe uncomfortable.

Just what motivates these policies and what are their repercussions for the country's already battered economy?
 
Inside Story, with presenter Jane Dutton, discusses with Matlotleng Matlou, the chief executive of the Africa Institute of South Africa, and David Monyae, a political analyst.

Source:
Al Jazeera
Topics in this article
People
Country
Organisation
Featured on Al Jazeera
The author argues that in the new economy, it's people, not skills or majors, that have lost value.
Colleagues of detained Al Jazeera journalists press demands for their release, 100 days after their arrest in Egypt.
Mehdi Hasan discusses online freedoms and the potential of the web with Wikipedia founder Jimmy Wales.
A tight race seems likely as 814 million voters elect leaders in world's largest democracy next week.
Featured
Venezuela's president lacks the charisma and cult of personality maintained by the late Hugo Chavez.
Despite the Geneva deal, anti-government protesters in Ukraine's eastern regions don't intend to leave any time soon.
Since independence, Zimbabwe has faced food shortages, hyperinflation - and several political crises.
After a sit-in protest at Poland's parliament, lawmakers are set to raise government aid to carers of disabled youth.
A vocal minority in Ukraine's east wants to join Russia, and Kiev has so far been unable to put down the separatists.
join our mailing list