President Robert Mugabe says Zimbabwe is expected to amend its feared indigenization law, which has been blamed by economic commentators for any meaningful investment in Zimbabwe since its promulgation.
Officially opening the Fourth Session of the Eighth Parliament today, Mr. Mugabe said the indigenization law will be among several laws that will be debated in parliament.
“The indigenization act will be amended to bring it into consonant with policy changes enunciated by my government in April this year. The Computer, Crime and Cyber Bill will be tabled to deal with what governments the world over are grappling with,” he said.
The much-feared regulations compelling foreign-owned firms to part with equity stakes of 51 percent remains intact with indications that there is discord in the government on changing the Indigenization and Economic Empowerment Act to accommodate cowered foreign investors.
Zimbabwe has been grappling with public protesters demanding an end to President Mugabe’s rule.