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Zimbabwe plans sovereign wealth fund law

Posted on 01 November 2013

Zimbabwe plans to craft a law to set up a sovereign wealth fund by next February - but it may not have any money at first as the government desperately needs to develop the country’s crumbling infrastructure, the finance minister said. Patrick Chinamasa also said on Wednesday that the government would consider a first international bond issue to help finance its mining sector.
The southern African country has previously said it wanted to create a sovereign wealth fund to buy shares in foreign-owned companies, including mines, under President Robert Mugabe’s controversial black economic empowerment programme…………………………….Full Article: Source


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