News / National
Zimbabwe is open for business, says Mnangagwa
24 Jan 2018 at 13:41hrs | Views
Zimbabwe's President Emmerson Mnangagwa has said that Zimbabwe is open for business.
Mr Mnangagwa said that foreigners will no longer need to give up 51% of their business to black Zimbabweans, as they previously had to under the country's Indigenisation and Empowerment Act.
The law is now "limited to two minerals, diamond and platinum," Mr Mnangagwa told the BBC's Mishal Hussein during an interview at the annual World Economic Forum summit in Davos, Switzerland.
For other businesses, he added, foreigners "can negotiate" how much of the business they own.
Mr Mnangagwa also said he hoped Zimbabwe was heading towards a new and better relationship with the UK, saying that British Prime Minister Theresa May called him within an hour of his inauguration.
Sticking to a positive note, Mr Mnangagwa suggested that Zimbabwe's food crisis might be over, adding that Spain, Brazil, Belarus have all helped Zimbabwe with irrigation technology.
Mr Mnangagwa said that foreigners will no longer need to give up 51% of their business to black Zimbabweans, as they previously had to under the country's Indigenisation and Empowerment Act.
The law is now "limited to two minerals, diamond and platinum," Mr Mnangagwa told the BBC's Mishal Hussein during an interview at the annual World Economic Forum summit in Davos, Switzerland.
Mr Mnangagwa also said he hoped Zimbabwe was heading towards a new and better relationship with the UK, saying that British Prime Minister Theresa May called him within an hour of his inauguration.
Sticking to a positive note, Mr Mnangagwa suggested that Zimbabwe's food crisis might be over, adding that Spain, Brazil, Belarus have all helped Zimbabwe with irrigation technology.
Source - BBC
