Sol Invictus
02-14-2010, 08:40 PM
Jane Fields | africancrisis.co.za | 13-Feb-2010
White people will no longer be able to open hairdressers, advertising agencies or bakeries in Zimbabwe under black empowerment regulations hastily signed into law by president Robert Mugabe's side of the government.
Morgan Tsvangirai, Mr Mugabe's estranged prime minister, described the new law as "null and void" because he had not been consulted. But analysts say he will likely be unable to reverse it.
The Indigenisation and Economic Empowerment Regulations force executives of white-owned companies with assets of more than £320,000 to commit to hand over 51 per cent of their shares to black Zimbabweans within 75 days of 1 March – or face five years in jail.
The executives cannot choose their new shareholders: they must pick from a database set up by the empowerment ministry, headed by former secret service operative Saviour Kasukuwere, who has vast business interests of his own. "This says to investors: Don't you dare come here," said political analyst John Makumbe, of the University of Zimbabwe.
Read More Here (http://www.africancrisis.co.za/Article.php?ID=70299&)
White people will no longer be able to open hairdressers, advertising agencies or bakeries in Zimbabwe under black empowerment regulations hastily signed into law by president Robert Mugabe's side of the government.
Morgan Tsvangirai, Mr Mugabe's estranged prime minister, described the new law as "null and void" because he had not been consulted. But analysts say he will likely be unable to reverse it.
The Indigenisation and Economic Empowerment Regulations force executives of white-owned companies with assets of more than £320,000 to commit to hand over 51 per cent of their shares to black Zimbabweans within 75 days of 1 March – or face five years in jail.
The executives cannot choose their new shareholders: they must pick from a database set up by the empowerment ministry, headed by former secret service operative Saviour Kasukuwere, who has vast business interests of his own. "This says to investors: Don't you dare come here," said political analyst John Makumbe, of the University of Zimbabwe.
Read More Here (http://www.africancrisis.co.za/Article.php?ID=70299&)