Thursday, March 28, 2024

Zimbabwe audits Western business

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Zimbabwe is auditing hundreds of Western business interests as possible targets for takeover, in a reported backlash against foreign pressure on President Robert Mugabe.

Citing a recent economic reform, Paul Mangwana, the minister in charge of economic empowerment told Agence France Press (AFP), they will identify the potential partners and the companies that could be taken over.

He said British investors held stakes in at least 499 Zimbabwean companies while 353 firms have shareholders from other European countries.

A recent act came into force aimed at ‘indigenisation’ — boosting local ownership of companies.

State media reported meanwhile that companies heeding a call by world powers for United Nations sanctions against President Robert Mugabe’s government would be seized.

This move aimed to prevent investors from pulling out of these companies after foreign powers called for tougher sanctions against Mugabe’s government, the newspaper said, in the wake of a disputed national election.

14 COMMENTS

  1. Zimbabweans should brace themselves for a complete economic standstill and hence more trouble under Mugabe. The guy has copletely lost touch with nature and has no idea what the ordinary Zimbos are going thru. After seizing those companies then what? give them to ill qualified Zimbos to run???? I personally suppoort Mugabe on the principle behind land ownership but the mechanism of doing it is desperately wrong. I used to think Zambians are most dormant pipo in Southern Africa but no Zimbos are worse. Zimbos do not run away from your country. you need to take Mugabe by the horns or you will continue to suffer.

  2. 100billion bill just enough to buy a short life span loaf of bread and inflation sourling at more than 10 and 15million percent? that is really economics at its worst ever heard of.
    zimbabweans are paying for the sins committed agains zambians after helping them attain independence and trushing us later.

  3. Is it true that Zambia spent 80 billion to help in the Liberation of Southern Africa ? and that part of this money went to paying allowances for freedom fighters e.g Oliva Tambo (Late, Joshua Nkomo etc

  4. Well the west can’t have their cake and eat it too. They have rightly imposed sanctions against Zim but let their companies continue making profits in the same country unlike in Cuba and Iran where they are prohibited. I hate Mugabe and his policies but these companies should leave or belong to the Zimbabweans. There is just too much smoke and mirrors with the west!

  5. Just like when mugabe told blair ” you have your britain, and zimbabwe is for me”
    Some one should pointed out to him that just like britain was/is not for blair but the british pipo, Zimbabwe is for the zimbabwean pipo not mugabes personal property.
    He dosent seem to care what destruction he causes to the development of zimbabwe. The whole world knows what nationalisation with revolutionary themes can do to development.

  6. Another deperate measure to please his cronies, Nationalisation has failed everywhere, how in this age can be nationalising.A latest 100 Biilion bill can only buy two loaves of bread and two trips to work, this is bad.I guess zimbos should be tired of life in this country now.By the way ZANU-PF and MDC have just signed an agreement about talks, LT missed this big time.They are starting talks now in SA, which I think is some hope for the pipo of zim, and we wish this process comes up with an inclusive govt and better constituition, then better elections in future.

  7. If you are a Livingstone resident, you will not make jokes out of the Zimbabwe situation, despite the way they treated us Zambians with our currency which they referred to as a tissue when theirs was doing fine. People are suffering, they are doing anything for a living; selling sweets for K50, sex for K2,500 etc. Its really bad am telling you, shops at Vic Falls town are just empty because of price controls.

    Lets just pray for God’s intervention just like we are doing for our President. The world is going crazy now, and I do not see the west sparing Zimbabwe without God’s intervention. Mugabe is so desperate, and we all would do the same; Mukango akasauka amadya udzu. God bless the World.

  8. Zambians and Zimbabweans are supposed to be one people.But up to now am failing to understand what wrong Zambia did to Mugabe.Last time when President Mwanawasa spoke about Zimbabwe he did not speak as Zambia but he was speaking as head of SADC.If Mugabe is not happy about SADC,let it not be about Zambia.Some of us even if we are not Zimbabweans we suffered alot for that country’s independence.

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