Don’t give mining shares to elite

ENVIRONMENT and Natural Resources minister Ali Chirau Mwakwere has given mining companies three weeks in which to show how they will hand over 35 per cent of their equity to Kenyans. He made it clear that this includes Base Titanium in Kwale who last week received an assurance from the Attorney General that they were not affected by the new 35 per cent regulation. The whole 35 per cent rule is thoroughly misguided. If implemented throughout the economy, it would turn Kenya into another Zimbabwe and undermine the economy as local elites grab foreign owned assets...