Zimbabwe: Delta Backs Empowerment Law

Harare — DIVERSIFIED conglomerate Delta Corporation says it has no quarrel with a controversial empowerment Bill recently rail-roaded through parliament, which will compel foreign-owned enterprises to cede half their shares to locals.

Zimbabwe's parliament in September rammed the Indigenisation and Empowerment Bill through despite opposition legislators storming out in protest at the controversial law. The contentious law has rattled the business sector with vocal industrial lobby bodies warning that the "share grab" plans will scare away existing and potential investors.

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