29 August 2015
   
New Zimbabwe Header
Mnangagwa: I’m not president in waiting
UK: Taylor passed out in random car
Mugabe ranked 3rd worst African leader
Minister blames TB rise on indigenisation
5 tamper with ZESA meters, jailed 8 mnts
Saviour to force firms to invest in water
Zanu PF MP cleared on assault charges
Zimbabwe wont starve, VP Mphoko claims
MORE NEWS
Stanchart profit plummets 85pct
RioZim to reschedule crippling $45m debt
MORE BUSINESS
Beyonce snubs joint album with hubby
‘Bankrupt’ 50 Cent to sell $18m mansion
MORE SHOWBIZ
Guinea: Chidzambwa warns Pasuwa
Warriors get new kit from Spanish firm
MORE SPORTS
Mugabe’s hollow state of the nation speech
Wafawarova: Zanu PF must walk the talk
MORE OPINION
 
Zimbabwe needs a new trajectory
Goblins for sell: Be wary of West Africa
MORE COLUMNISTS
 
 
Mugabe targets 100 percent black ownership
08/12/2012 00:00:00
by AFP
 
Pushing indigenisation ... President Robert Mugabe
 
RELATED STORIES
Metallon Gold risks losing licence
Kasukuwere: Foreign firms face prosecution
Mugabe launches Mat North share trust
Minister: colonial laws blocking empowerment
Mugabe launches Marange share scheme
Gono creating two centres of power
Empowerment levy on the cards

PRESIDENT Robert Mugabe on Friday vowed to overhaul business laws to require 100 percent black ownership of foreign firms, up from the current 51 percent.

In a pre-election address to the Zanu PF party faithful, Mugabe said the government would press ahead with controversial indigenisation policies, despite protestations from foreign investors.

"The notion that capital is more important than any other factors is nonsense," Mugabe told 5 000 delegates in the central city of Gweru. "That philosophy is dirty, filthy and is criminal."

The government passed a controversial indigenisation law two years ago, forcing all foreign-owned firms to cede a 51% shares to locals, arguing it would reverse imbalances created during colonial rule.

"I think now we have done enough of 51%. Let it be 100%," he told the last party conference before 2013 polls, which could well see the 88-year-old's name on the ballot for the last time.

In typically bombastic style, Mugabe's comments plotted a clear populist platform for his re-election campaign.

"If you don't want to abide by the rules go away."

Mugabe and Zanu PF face an uphill struggle to win over voters, many of whom are angered at the poor state of the economy.

The party must also patch up the damage done by internal splits that cost the party dearly in the 2008 general elections.

In that election, for the first time since independence in 1980, Zanu-PF lost its majority in parliament.

That helped force the veteran leader into a shaky power-sharing government with long-time rival Prime Minister Morgan Tsvangirai, whom he will face at the polls.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark
 
 
 
comments powered by Disqus
 
RSS NewsTicker