Zimbabwean law to require black business ownership
Tuesday, February 9, 2010

White businesspeople in Zimbabwe who don't cede control of their companies to black partners could face jail under a law going into effect next month.

An official notice Tuesday says the law will be enforced from March 1, and includes jail penalties of up to five years. It gives companies worth $500,000 or more 45 days to submit compliance proposals. Foreign investors also need to meet an "empowerment quota."

The law passed by the Harare parliament when it was still dominated by President Robert Mugabe's lawmakers in 2008 is meant to benefit "indigenous" Zimbabweans — those who suffered under colonial-era racial discrimination and their children born after independence in 1980. That effectively excludes the nation's 20,000 whites.

Copyright 2010 The Associated Press

I don't know what to make of this, is this for real?

What do you think?

What do you think?

I don't know enough about Zimbabwe or Mugabe or the Farmers to say enough, like I posted above. I think I would come off sounding unknowledgeale. This just seems like a big unreal topic that I'm surprised no ones talking about on here with all the knowledgeable posters.

I don't know enough about Zimbabwe or Mugabe or the Farmers to say enough, like I posted above. I think I would come off sounding unknowledgeale. This just seems like a big unreal topic that I'm surprised no ones talking about on here with all the knowledgeable posters.

Thats because we have already talked about it .

Thats because we have already talked about it .

So I've double posted? Where's the thread then?

Zimbabwean law to require black business ownership
Tuesday, February 9, 2010

White businesspeople in Zimbabwe who don't cede control of their companies to black partners could face jail under a law going into effect next month.

An official notice Tuesday says the law will be enforced from March 1, and includes jail penalties of up to five years. It gives companies worth $500,000 or more 45 days to submit compliance proposals. Foreign investors also need to meet an "empowerment quota."

The law passed by the Harare parliament when it was still dominated by President Robert Mugabe's lawmakers in 2008 is meant to benefit "indigenous" Zimbabweans — those who suffered under colonial-era racial discrimination and their children born after independence in 1980. That effectively excludes the nation's 20,000 whites.

Copyright 2010 The Associated Press

A question that probably is very rhetorical, but I suppose this law has no ending date for up until when one is considered priviliged? In other words; it doesn't matter if you move to the country next year or 5 years from now, if you're non-black then you're priviliged according to the law?

I don't know about the exact details (and I just can't be bothered to look it up now), but I did hear recently that Zim would start requiring businesses to be at least 50% black-owned. I don't know if it applies to new investments or if it includes existing businesses.

Okay, is that black of Zimbabwean nationality or does any work out? And how much 'black' is black? I happen to know 2 guys who are 1/4th black but look white, so I guess that wouldn't count.

Might be that I'm asking too much. :)