49 percent equity to foreigners is too generous - Mutambara

Deputy Prime Minister Professor Arthur Mutambara says the current indigenisation threshold that gives foreigners 49% equity in Zimbabwe is far too generous and must be reviewed in line with trends from other countries in the world.

Speaking at a public dialogue seminar on a topic entitled "Debt, Diamonds and Development in Zimbabwe," Professor Mutambara said the country should look at other indigenisation examples around the globe like Norway where foreigners battle out for mere 7% equity.

The Deputy Prime Minister also called upon Zimbabwe to carry out a proper valuation of all natural resources to avoid being short-changed by foreign investors who end up taking over the nation's vast resources for a song.

Experts have warned that the current $9,1 billion debt that the country has is not justified considering the vast natural resource base which the country has.