Zimbabwe law targets foreign businesses

New legislation forces foreign companies to give a majority of shares to black Zimbabweans.

    Zimbabwe is moving ahead with a new "indigenisation" law, known as the National Community Trust, which will force foreign companies to hand 51 per cent of shares to black Zimbabweans.

    Impala Platinum, a South African-owned company, has already agreed to turn over a 10 per cent of its stake in its Zimbabwean Zimplats operation. In September the government threatened to take away the company's licence to mine the world's second largest platinum reserves.

    More companies are expected to follow but some fear that the law is a plan to help strengthen President Robert Mugabe's hold on the country ahead of possible elections in 2012.

    Al Jazeera's Haru Mutasa reports from Selous, Zimbabwe.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Interactive: Take a tour through divided Jerusalem

    Interactive: Take a tour through divided Jerusalem

    Take a tour through East and West Jerusalem to see the difference in quality of life for Israelis and Palestinians.

    Stories from the sex trade

    Stories from the sex trade

    Dutch sex workers, pimps and johns share their stories.

    Inside the world of India's booming fertility industry

    Inside the world of India's booming fertility industry

    As the stigma associated with being childless persists, some elderly women in India risk it all to become mothers.