Business
Zimbabwe insists that indigenization is not nationalization
“I think most of them are not going to get their payment or they will have to wait for many, many years to get their payments for the shares taken,” said Bloch.
“This process is politically driven and it’s being used to capture votes ahead of elections.”
David Chapfika, chairman of the indigenization board, told AFP that discussions are on-going to determine the value of shares in different companies.
“We are still working on the commercial value and sovereign value of the resources, we haven’t made a decision.”
But Finance Minister Tendai Biti last week said the shares taken up from foreign companies must be paid for.
“This is not nationalization, money will change hands,” he said.
The local shareholding push is one of several areas of difference in the uneasy unity arrangement.
