Equity deadline for Zimbabwe foreign firms

Government decision awaited on multinationals who did not sell majority of shares to locals.

    The government of Zimbabwe will decide on Tuesday how to deal with foreign firms who will not sell the majority of their shares to locals.

    Multinationals in the country had until Sunday to submit their plans to comply with the Indigenisation and Empowerment Law.

    The government says it is about black empowerment, but critics call it cronyism. The state has already rejected Standard Chartered Bank's offer to cede 10 per cent of its shares to local blacks.

    Al Jazeera's Khadija Magardie reports.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    How different voting systems work around the world

    How different voting systems work around the world

    Nearly two billion voters in 52 countries around the world will head to the polls this year to elect their leaders.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    The great plunder: Nepal's stolen treasures

    The great plunder: Nepal's stolen treasures

    How the art world's hunger for ancient artefacts is destroying a centuries-old culture. A journey across the Himalayas.