Zimbabwe's Mugabe says empowerment law confusing investors

Zimbabwe's black empowerment policy that aims to transfer majority shares from foreign-owned firms to locals is confusing potential investors and makes it hard to compete for foreign investment, President Robert Mugabe said on Tuesday. The southern African nation passed an Indigenisation and Economic Empowerment Act in 2008, which forces foreign companies, including mines and banks, to transfer at least 51 percent shares to black Zimbabweans. For example, the finance minister said on April 2 for