On Christmas Eve, Finance Minister Patrick Chinamasa gave foreign-owned firms that had not met a January 2014 deadline to comply with the indeginisation laws a reprieve saying they now had up to March 2016. But just hours after that, on Christmas Day, the Minister in Charge of Indeginsation Patrick Zhuwao dismissed the finance ministers comments. Zhuwao, in charge of the portfolio September, has taken a hardline stance on the contentious policy and has also proposed a ten percent empowerment levy that all foreign owned firms should pay annually.
The indeginisation laws in place since 2008, have been cited for inhibiting much needed foreign investment and previously there had been indications that they may be relaxed. However earlier this month while addressing his party’s national conference President Robert Mugabe insisted that come 2016 there would be no tolerating any foreign company that opposes the laws.
“certainly come January and its 2016 that stubbornness and resistance we say should end in 2015. 2016 we will not accept a company, which rejects our policy of indeginisation and empowerment” Zimbabwe President Robert Mugabe
