Namibia scraps plan to force white-owned businesses to sell 25% stake to blacks

Namibia has scrapped a clause in its economic empowerment framework that would have forced white businesses to sell a 25% stake to previously disadvantaged blacks, President Hage Geingob said on Wednesday. Making the announcement during his state of the nation address, Geingob said a revised National Equitable Economic Empowerment Framework (NEEEF) draft bill will be proposed in Parliament before the end of 2018.