Controversial ownership bill introduced in parliament
Staff Writer
23 August, 2007

The government introduced a bill to parliament on Thursday that would in effect nationalize foreign companies.

If passed it will give government sweeping powers over foreign owned companies, including mines.

The Minister for indigenisation and empowerment, Paul Mangwana, introduced the bill in parliament, describing it as an indigenisation and economic empowerment bill.
Analysts fear that if the bill becomes law the only effect it will have will be to deepen the economic crisis.