Robert Mugabe's regime is currently pursuing more of the same poison that drove Zimbabwe's economy into the ground. As the Wall Street Journal reports: Multinationals in Zimbabwe have... to submit new plans for handing over majority control in local operations to black locals, stirring fresh resistance to a corporate "indigenization" campaign and ratcheting up tensions in the... African country. Several multinationals operating in the country said Friday they received a letter from Zimbabwe's Minister of Indigenization Saviour Kasukuwere demanding they [submit] plans... on how they will part with a 51% stake in their operations to government entities or set up share-ownership programs for employees. Otherwise, they risk losing their operations, the letter said. Mugabe's regime has been systematically nationalizing enterprises and redistributing them to his supporters. The more nationalization and redistribution Mugabe's regime does, the more Zimbabwe's economy disintegrates. Tapiwa Mashakada, Zimbabwe's Economic Planning Minister, from the opposition party the Movement for Democratic Change, tried to downplay this demand, saying, "It is a flexible law and investors are given time....
(Read Full Article)
Print
COMMENTS ON AMERICANTHINKER