Tag: Indigenisation

Government is investigating Murowa Diamonds

Government is investigating Murowa Diamonds

HARARE: Government is investigating the circumstances under which the ownership of Midlands-based gem miner Murowa Diamonds changed hands last year, Parliament heard on Wednesday. As at mid-last year, Rinto Tinto PLC held a 78 percent stake in the Zvishavane based miner while its local unit, Rio Zim, owned the remainder. […]

Chinese ambassador warns Zimbabwe

Chinese ambassador warns Zimbabwe

Chinese ambassador to Zimbabwe Huang Ping has urged Harare to respect a bilateral investment protection pact and safeguard Chinese investors’ lawful rights. The ambassador made the appeal as the Zimbabwean government took steps to consolidate foreign diamond mines and pressed ahead with an indigenisation policy requiring foreign companies to cede majority interests […]

Foreign firm closures: Zhuwao backs off

Foreign firm closures: Zhuwao backs off

HARARE: Indigenisation Minister Patrick Zhuwao on Thursday backed off threats to take precipitous action and close foreign firms deemed to be non-compliant with the country’s local ownership law, but accused the central bank of misleading foreign banks over the regulations. Last week, Zhuwao announced that President Robert Mugabe’s cabinet had […]