[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
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Israel's Operation Protective Edge is the third major offensive on the Gaza Strip in six years.
Muslims and Arabs in the US say they face discrimination in many areas of life, 13 years after the 9/11 attacks.
At one UN site alone, approximately four children below the age of five are dying each day.
Featured
'I'm dying anyway, one piece at a time' said Steve Fobister, who suffers from disabilities caused by mercury poisoning.
The world's newest professional sport comes from an unlikely source: video games.
The group's takeover of farms in Qaraqosh, 30km from Mosul, has caused fear among residents, and a jump in food prices.
Protests and online activism in recent months have brought a resurgence of ethnic Oromo nationalism in Ethiopia.
Chemotherapy is big business, but some US doctors say it could be overused and are pushing for cheaper and better care.
join our mailing list