03/28/2008 02:45 am ET Updated May 25, 2011

Zimbabwe Parliament Approves Transfer Of White-Owned Businesses To Blacks

White Zimbabweans found themselves a step closer to losing control of their businesses to black people yesterday as a result of new government legislation.

The ruling Zanu-PF party in parliament approved the indigenisation and economic empowerment bill on Wednesday night. The proposed law calls for white owners to hand over 51% of their business interests to black people. Opposition MPs walked out of the sitting, saying the bill was racist and unconstitutional.

Read more on The Guardian (U.K.)