ZIMBABWE NETZWERK e.V.

Mugabe to amend indigenization law, softens ownership demands

New Zimbabwe writes: " PRESIDENT Robert Mugabe on Tuesday announced a major shift in his government's controversial empowerment policy, indicating the law could be amended to reflect softening local empowerment demands on foreign mines and banks. In a statement after a Cabinet meeting on Tuesday, Mugabe said he was prepared to amend the law "forthwith" to reflect the refined policy thrust. This is the first time Mugabe has offered to amend the law since it was enacted in 2008. Mugabe's statement comes after public disagreements by his ministers over the implementation of the law, and just days after a March 31 deadline imposed on foreign companies to comply or risk losing operating licences. ...".