Sundaymail Editor
Online Reporter
GOVERNMENT has announced plans to amend existing broadcasting laws to allow foreign investment in the sector.
Under the current Broadcasting Services Act, local broadcasters cannot accept foreign cash injections, while foreigners cannot hold a stake in local broadcasting operations.
Speaking in the National Assembly on Tuesday, Information, Publicity and Broadcasting Services Deputy Minister Kindness Paradza said: “We are going to amend the Broadcasting Services Act so that anyone who wants to apply throughout the year can do so. We also want to put an amendment in the Act that foreigners with money can partner with Zimbabweans and inject funds into the broadcasting industry so that we build a multi-million-dollar industry where foreign players can own 40 percent.
“While other countries allow 20 percent, in Zimbabwe we allow 40 percent directorship.”
Deputy Minister Paradza called on Parliament to support the Bill when it eventually gets tabled for debate.
Online Reporter