In an interview with Bloomberg Television Zimbabwe’s Finance Minister Mthuli Ncube has said that the government is removing the current indigenization rule which prevents 100% foreign ownership in diamond and platinum extracting businesses. The current law  requires that at least 51% be owned by a Zimbabwean citizen.

The impending changes are yet to be formulated into official law.

See the full interview here.

This article is for informational purposes only. For legal advice, contact our Mining & Energy team.