Africa Mining: Zimbabwe changes empowerment law limiting majority ownership to diamond and platinum

HARARE – Zimbabwe has changed its empowerment law to limit majority ownership by state entities to only diamond and platinum mines and not the entire mining sector as in previous legislation, according to a government notice. The Indigenisation and Econmic Empowerment Act was designed to increase black Zimbabweans’ share of the economy but were opaque and open to abuse, to the detriment of foreign investor confidence, a situation that new President Emmerson Mnangagwa promised to change.source: Reuters

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