Tuesday, 26 November 2013

Hmm! Nigerians trading in Zimbabwe have to shut down businesses!

Nigerians trading in Zimbabwe will be denied opportunity to continue trading from January 2014. 
An ultimatum to shut down businesses by January. 1, 2014 have been given to foreign shop-owners especially Chinese and Nigerians.

 According to integrity reporter

A top official of the black empowerment ministry said only Zimbabweans had the right to run shops that have sprung up across the country and are termed
foreign businesses targeted under the nation’s black empowerment laws, the state-controlled Herald newspaper reportedFriday.

Those laws, passed in 2007, demand foreign businesses to cede 51 percent control to local blacks.The foreign shop owners have been criticized for taking retail trade opportunities from
Zimbabwean traders by selling cheap imports.

Poor townships and city flea markets have in recent years been inundated by shops run by foreigners.According
to state media, shop owners who fail to comply will be arrested.

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