Prime Minister Morgan Tsvangirai rejected legislation signed into law by President Robert Mugabe that forces companies in Zimbabwe to sell more than half of their shares to black investors because it would “scare off” foreigners. “The regulations would have scared off foreign investors, already jittery about Zimbabwe as an investment destination,” Tsvangirai said in a statement posted on his own Web site on Feb. 9. “Without foreign direct investment in Zimbabwe, it will be difficult to kick-start the national economy.” Zimbabwe is attempting to grow its economy after a decade of political turmoil and recession under the leadership of Mugabe, whose Zimbabwe African National Union-Patriotic Front party controlled parliament from independence in 1980 until March 2009, when it lost elections to the Movement for Democratic Change. (Bloomberg)
