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Zimbabwe Says It Will Arrest Foreign Firms Starting of January 2014

Zimbabwe Says It Will Arrest Foreign Firms Starting of January 2014

From The BBC

The owners of foreign firms operating in certain sectors in Zimbabwe after 1 January 2014 will be arrested, a senior official has warned.

Economic Empowerment Secretary George Magosvongwe issued the warning in parliament, state media reports.

“Indigenization” of the economy was one of President Robert Mugabe’s main campaign themes in the March election.

Farming, hairdressing and baking are among the sectors now reserved for “indigenous,” or black, Zimbabweans.

“1 January is a month to come and we are putting in place measures for enforcement in the event that they do not comply,” the state-owned Herald newspaper quotes Magosvongwe as saying.

He said that Zimbabweans were being identified to take over businesses to prevent shortages of goods.

According to the Herald the “reserved sectors of the economy” include: Retail and wholesale business, hairdressers, beauty salons, bakers, employment agencies, agriculture, transport, estate agencies and advertising agencies.

It said that foreign-owned restaurants which did not serve local food would not be affected.

Owners of businesses without indigenization compliance certificates face a fine or imprisonment if they are still operating, the Herald reports.

Read more at The BBC.

It says these certificates are only given to local people.