|
Mugabe targets big Anglo sugar farm print friendly version
Mining giant Anglo American is set to become the largest South African-listed group to be hit by Zimbabwe's land-reform programme, as its only agricultural asset in the country, Hippo Valley sugar estates, has been earmarked for expropriation. Anglo American is one of the few remaining South African companies that still has large interests in Zimbabwe despite the precarious economic situation. Hippo Valley, the country's largest sugar company, is still listed on the Zimbabwe Stock Exchange. Zimbabwe's land-reform policy, based on the expropriation of white-held farmland, has been widely criticised. President Thabo Mbeki's policy of quiet diplomacy towards Zimbabwe has had little visible effect as the country's economy is struggling with inflation of 598% and an estimated 70% unemployment rate. Another local sugar giant that may be at risk is Tongaat Hulett, which owns Triangle Sugar in Zimbabwe and until recently was getting about 15% of its earnings from there. Tongaat was reluctant to discuss the issue yesterday.
Posted by: Fred Pruitt 2004-02-03 |
|
| http://www.rantburg.com/poparticle.php?ID=25503 |