NewsDay reports that government yesterday took over all foreign mining firms that have not
complied with the Indigenisation and Empowerment law to dispose 51%
shareholding to locals.
According to NewsDay, Indigenisation minister Saviour Kasukuwere said profits accruing to the
51% now belonged to government and warned affected firms that attempt to
defraud the State will be prosecuted.
But, Prime Minister Morgan Tsvangirai immediately rebuffed the claims
and urged business to ignore Kasukuweres notice saying he had executive
powers and the Constitution of Zimbabwe bestow him with the authority to
oversee and supervise policy formulation and implementation.
Tsvangirai's position is that the GNU has bot commisioned the minister's actions that are a threat to investment in the industry.
So who do we listen to?
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