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Zimbabwe will from April 1 cancel licences for foreign firms, including those operating mines and banks, that have not complied with a law to sell majority shares to locals, Empowerment Minister Patrick Zhuwao said on Wednesday.
"It's either you comply or you close shop," Zhuwao said.
Zimbabwe had given foreign-owned firms a March 2016 deadline to submit plans on how to comply with a law requiring them to sell at least 51 percent shares to locals.
Source: Reuters
"It's either you comply or you close shop," Zhuwao said.
Zimbabwe had given foreign-owned firms a March 2016 deadline to submit plans on how to comply with a law requiring them to sell at least 51 percent shares to locals.
Source: Reuters