‘Only 1 indigenisation transaction concluded, & all major mining deals ‘abandoned’,

‘Only 1 indigenisation transaction concluded, & all major mining deals ‘abandoned’,

ADVISORY firm Brainworks Capital on Thursday said only one indigenisation deal had been consummated by government, while transactions worth over $1 billion with major platinum mining firms Anglo American Platinum, Impala and Aquarius had been abandoned. Zimbabwe’s Indigenization Act — enacted in 2008 — requires foreign owned companies valued at over $500,000 to cede 51 percent to black locals. The local ownership law has been cited as a major impediment to foreign investment in an…

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