BULAWAYO - A Botswana investment organization has called on Zimbabwe's new inclusive government to scrap draconian empowerment laws to build investor confidence. This comes after the Botswana government committed to a credit
guarantee of 500 million Pulas from its local financial institutions
for business dealings with Zimbabwe industry in a country described as
being in a state of contingent liability.'
The credit line is a sequel to SADC head of states extraordinary who
met in Swaziland on March 29 to discuss the funding model to help
Zimbabwe.
However Botswana Confederation of Commerce Industry and Manpower (BOCCIM) chairperson Maria Machailo-Ellis said:
The new government in Zimbabwe should scrap the draconian empowerment
laws such as Indigenization Economic Empowerment Act which came during
the height of white owned commercial farms seizure. At the same time
Botswana need to fast track the finalization of the Investment
Protection Agreement to secure investments in Zimbabwe and to provide
the potential investors with the confidence to do business there.