Business / Economy
Zimbabwe to pay for foreign firms: MDC-T Minister
08 Jul 2011 at 06:37hrs | Views
Foreign companies operating in Zimbabwe will not be seized but bought out under a black economic empowerment scheme. This was revealed by MDC-T's Tapiwa Mashakada who is also the Economic Planning and Investment Promotion Minister.
Speaking at the launch of a five-year economic development plan, Economic Planning and Investment Promotion Minister Tapiwa Mashakada said the drive would take time and would not destroy the country's fragile economy.
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"Indigenisation and empowerment need not be the elephant in the room," said Mashakada.
"It is there to make sure the majority of our people are broadly empowered. The 51 percent is not going to be expropriated. It's going to be funded and there's going to be a time frame for that," he said.
Speaking at the launch of a five-year economic development plan, Economic Planning and Investment Promotion Minister Tapiwa Mashakada said the drive would take time and would not destroy the country's fragile economy.
WIN YOUR TICKET FOR THE BOSSO versus CELTIC Match
"Indigenisation and empowerment need not be the elephant in the room," said Mashakada.
"It is there to make sure the majority of our people are broadly empowered. The 51 percent is not going to be expropriated. It's going to be funded and there's going to be a time frame for that," he said.
Source - Byo24News
