Harare, Zimbabwe — 23 August 2013 – President Robert Mugabe of Zimbabwe has confirmed in his inauguration speech that his government will continue to implement its controversial indigenisation policy, which has raised eyebrows across the global mining industry.
Mugabe said his government would continue seeking to give indigenous Zimbabweans a 51% shareholding in all business ventures, Fin 24 reports. The country will welcome foreign partners who were willing to accept the remaining 49% stake.
The president added that he would not allow a situation where capital, expertise and technology were given more value than natural resources. The new government would correct the current situation were Zimbabwe was a net importer of finished goods and a net exporter of raw materials.
He said development in the country had been stalled by bickering in the inclusive government, adding that squabbles were now a thing of the past.
Source: Fin24. For more information, click here.