Start with 25% and with him being such a huge fan of Mugabehe...

Start with 25% and with him being such a huge fan of Mugabe
he might just take the whole lot

Zambia Election Candidate Vows 25% Local Stake In Foreign Cos
12 days ago

LUSAKA, Zambia (AFP)--Zambia's main opposition leader vowed Wednesday to make foreign firms set aside 25% of their shares for local investors, if he wins this month's presidential election.

Michael Sata, an admirer of Zimbabwe's leader Robert Mugabe, said he would revoke licenses for foreign investors if they resist his orders to give up at least a 25% stake in companies.

Sata, candidate for the Patriotic Front, said he would issue the order within one month, if he wins the Oct. 30 election.

"The statutory instrument will provide for a minimum of 25% equity, a period of five years and penalties, such as cancellation of licenses, in the event a company does not comply," Saga said in a statement.

He said the order would apply to banks, financial institutions, mines, factories, farms and petroleum companies.

Two years ago, Sata called for the deportation of Chinese investors whom he accused of taking jobs from Zambians.

Zambia's presidential race is seen as a contest between Sata and acting president Rupiah Banda, who is standing on the ruling party ticket.

Others in the contest include Hakainde Hichilema of the United Party for National Development and a former vice president, Godfrey Miyanda of the Heritage Party.

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