Mudenda Contradicts Nhema on Indigenisation

Now Daily|

Speaker of the National Assembly, Jacob Mudenda has claimed that the country’s controversial Indigenisation Act is to be amended to attract foreign investors.
The statement contradicts indigenisation minister Francis Nhema who has said the company seizure law was there to stay.
Speaking to diplomats and business leaders in Norton Wednesday, Mudenda reportedly said: “Our indigenisation law is not cast in stone and we are working on perfecting the law to ensure that we increase foreign direct investment.”
Earlier, Nhema dismissed as false, statements by information minister Jonathan Moyo and other senior Zanu PF members that the divisive Indigenisation Act was being amended following an outcry from investors.
The law requires investors to cede 51 percent to the state, a measure which diplomats have said alarms investors.
(c) 2014 Now Daily.

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