Law waived by government for Air Zimbabwe for investment

The Zimbabwean government has said it may waive a law capping foreign ownership of local firms at 49% for Air Zimbabwe.
Time Aerospace thumbnail
The government has said that it is prepared to overlook the law in order to secure a strategic investor for the carrier.
 
“Whoever is going to come, will come at par with Air Zimbabwe. Indigenization is not applying here, there are areas reserved for us and the 51% will apply, but in other areas. You can’t say 51:49. As Zimbabweans, let’s not send the wrong message. In this instance it is not going to apply. We are looking at someone who will partner with us at par," Minister of Transport, Joram Gumbo, said to NewsDay.
 
The carrier is struggling in the Zimbabwean economy and has an aging, inefficient fleet. 

Related content