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You are here : World News – Russian opinion» WORLD» Zimbabwean authorities have demanded shares in foreign companies

Zimbabwean authorities have demanded shares in foreign companies

Posted By Russian Opinion. Under WORLD  Tags: Company  

The government of Zimbabwe allows foreign companies to two weeks to submit plans regarding the transfer of shares in most companies, the local residents. Otherwise, Western businessmen are at risk of losing operating license. According to state media of Zimbabwe, the 13 companies with an ultimatum, including mining group Rio Tinto, British American Tobacco Company and a number of foreign banks, which should give the share of local residents. The head of the central bank, Gideon Gono has criticized the country's ultimatum, saying that the government plans to jeopardize the economic recovery of Zimbabwe. Recall the previous attempt to put a similar ultimatum to no avail. March 28 the government of Zimbabwe has issued a decree according to which all foreign mining companies operating in the country should give Zimbabweans at least 51% of the shares. Disposal, in particular, to such international giants as Anglo American and Canadian Rio Tinto. Zimbabwean President Robert Mugabe said the decision concern for the people. "Look, Great Britain and America, this is our country. If your company wants to work in our mining sector, we kindly invite them to work with us, but our people should be the principal shareholder "- said the 87-year-old Mugabe. According to him, foreign companies have 45 days in which to explain who they will pass on 51% of their "daughters", operating in Zimbabwe, and the broadcast must be completed within six months. Zimbabwe has the second largest reserves of platinum and chrome after South Africa, but lives are much poorer than the neighboring country. Largely to blame the country's hyperinflation, which arose because of Mugabe's economic reforms. He, in particular, made ​​a re-division of agriculture of the country, passing a farm owned by the former white settlers, the black indigenous people.

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