[Daily Nation (Kenya)] Zim-bob-we has reversed a notice giving foreign-owned schools and nurseries a year to hand over 51 per cent of their shareholding to locals.The directive issued by Indiginisation minister Saviour Kasukuwere a fortnight ago was also targeted at foreign banks, which are still subject to the compulsory take-overs.
The measures are part of President Bob
MuggsyMugabe
Octogenarian President-for-Life of Zim-bob-we who turned the former Breadbasket of Africa into the African Basket Case...
's controversial economic empowerment programme that has already seen foreign mining companies being forced to give their majority stakes to local blacks.
But Education minister David Coltart said yesterday he had reached an agreement with Mr Kasukuwere to spare non-profit-making mission schools, religious institutions, and community-owned schools from the asset grab.
Mr Coltart of the Movement for Democratic Change (MDC) that is in an inclusive government formed with President Mugabe's Zanu PF had already declared that the directive was illegal.
"Minister Kasukuwere and I agreed that mission, religious, church and community trust schools run not for profit will not be subject to indeginisation," he said in a statement.
He continued: "I am pleased to report that I had a very constructive discussion with (Mr) Kasukuwere regarding the notice recently issued.