What significant action did Kaunda take regarding foreign-owned companies?
Acquired majority stakes
Sold all shares
Nationalized them
Decreased regulation
Answer
Acquired majority stakes in foreign-owned companies was a significant action taken by Kaunda. This move aimed to increase local control over the country's economy and reduce foreign influence. By acquiring majority stakes, the Zambian government gained greater decision-making power and could ensure that the operations of these companies aligned with national interests and development goals.
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