Zimbabwe proposes local ownership of foreign firms

HARARE, Nov 6 (Reuters) - Zimbabwe's government has proposed that Zimbabweans take 51 percent ownership of foreign companies in the country, including mines and banks, according to a copy of a draft law seen by Reuters on Friday.

The draft regulations said Zimbabweans should hold 51 percent, or a controlling interest, in each foreign-owned business in Zimbabwe with an asset value above $500,000.