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MDC-T savages Mugabe over indigenisation

by Staff reporter
14 Apr 2016 at 07:35hrs | Views

Morgan Tsvangirai's message says president Mugabe should do the right thing and overhaul the controversial indigenisation laws so as to attract the much needed foreign direct investments and not offer piecemeal but desperate concessions.

MDC Spokesperson Obert Gutu said the indigenisation policy needs a thorough overhaul and not piecemeal concessions as that would only add to the confusion.

On Tuesday Mugabe stepped in to clarify the countries position on indigenisation following a public fallout between ministers Patrick Chinamasa (Finance) and Partrick Zhuwawo (indigenisation)on the implementation of the law that forces foreign companies to cede 51 percent of their investments to locals.

Expert say the controversial law has thus far repealed investors and the public fights between Mugabe's ministers have also brought a cloud of uncertainty of those who may have wanted to bring their money to the country.

Source - Daily News