Gono wants to attract foreign investment

Reserve Bank of Zimbabwe Governor Gideon Gono says there is need for the government to review some aspects of the Indigenisation and Economic Empowerment Act to enable the country to attract foreign investment.

The Act, which came into effect last year, seeks to empower indigenous people through the acquisition of majority shares in foreign-owned companies.

 We need to re-look at some of the clauses in the Act and amend them, he said. It's not that we are anti-indigenisation, we want to be practical.
Zim. stock exchange in forex
The Zimbabwe Stock Exchange is set to begin trading in foreign currency before the end of the month following approval by the Acting Minister of Finance, Senator Patrick Chinamasa, in his budget announcement.
Trade on the local bourse ceased on 26 November last year and since then investors and companies have had no avenue in which to hedge their investments against inflation.
Expectations are high that the switch to hard currency will be a significant step to make the investors once again turn to the bourse as an investment vehicle.

Post published in: Manufacturing

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