Sunday, March 07, 2010

Is Zimbabwe Regressing?

What's up with Zimbabwe? They finally got there inflation under control after experiencing the worst hyper inflation in modern day history, having to issue 100 trillion dollar bills. Even the Zimbabwe stock market was performing well.

But now, the indigenisation law went into effect. This is the law that requires all companies run by non-indigenous people have five years to sell a 51% stake in the companies to indigenous people. The penalty, which is severe, is being thrown in jail. This law affects all companies valued at over $500,000.

What a way to ruin the Zimbabwe economy, driving out foreign investments.

1 comment:

dcapo25 said...

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