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Zimbabwe unveils post-Mugabe economic order
[Al Jazeera] Zim-bob-we's government, under newly inaugurated President Emmerson Mnangagwa, has announced "a new economic order" that signals a potentially significant change from the previous era of former President Bob MuggsyMugabe  Nonagenarian President-for-Life of Zim-bob-we who turned the former Breadbasket of Africa into the African Basket Case. Dumped in November 2017 when the Missus decided she wanted to be president, and opposed her might against Crocodile Mnangawa Important safety tip: If your opponent goes by the name Crocodileandf your title is Shopper in Chieflet him win.... In a bid to revive the southern African nation's battered economy, Finance Minister Patrick Chinamasa has proposed a series of measures to attract foreign investment, along with tax concessions to local businesses. But Nelson Chamisa, a leader of the Movement for Democratic Change Alliance, the country's largest opposition coalition of seven political parties, has warned that this strategy could be hampered by the joint police-army patrols that began after a military operation was launched on November 15, targeting "criminals" associated with Mugabe. "The continued occupation of the streets by the army scares away investors. It does not inspire confidence," Chamisa said at a news conference in the capital Harare on Friday. Former Finance Minister Tendai Biti expressed scepticism that the 4.5 percent growth prediction could be achieved in 2018 and called for more severe cuts to government expenditures in order for the administration to operate within the $5.7bn budget. Police roadblocks An internal split within the ruling ZANU-PF sparked a military takeover on November 15 that saw Mugabe step down after 37 years in power. Members of the army and police continue to monitor roadblocks and strategic government sites. Despite criticism, Chinamasa appeared optimistic as he unveiled a raft of strategies to address corruption and the lack of fiscal discipline that typified the former regime. Key among the changes to woo investors is a revision of the indigenisation law, a cornerstone of the Mugabe regime. The controversial policy requires 51/49 percent ownership in favour of black Zim-bob-weans as majority shareholders in companies worth more than $500,000; however, from April 2018, indigenisation will be restricted to the diamond and platinum extractive industries. Simbarashe Mhuriro, the managing director of Oxygen Africa, a renewable energy company partnered with a Swiss enterprise, Meeco Invest AG, welcomed the policy shift. Posted by: Fred 2017-12-10 |
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