Indigenisation Policy, Waived To Aid Recapitalisation Of Struggling Air Zimbabwe, Now US.300 Million In Debt

Indigenisation Policy, Waived To Aid Recapitalisation Of Struggling Air Zimbabwe, Now US.300 Million In Debt

VICTORIA FALLS – Government has waived its controversial indigenisation policy to pave way for the recapitalisation of troubled national airline, Air Zimbabwe. Enacted in 2008, indigenisation regulations compel all foreign- owned businesses to cede 51 percent of their shareholding to black Zimbabweans.Transport minister Joram Gumbo on Thursday said the country’s black empowerment laws will not apply to Air Zimbabwe, as government intensifies efforts to secure an investor for the national flag carrier. “In regards to…

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