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| Africa: Subsaharan | |
| Zim minister warns of takeover of white-owned firms | |
| 2005-09-14 | |
| Perhaps this new sound economical move will get us introduced to an another relative of Mr. Farmin' B. Hard? A Cabinet minister in Zimbabwe has warned the government may take over white-owned firms in an exercise similar to actions under Harare's five-year-old land-reform programme, a newspaper reported on Tuesday. Minister of Transport Chris Mushohwe told a business conference in the mountain resort of Nyanga last week that the government could seize companies owned or run by whites, the privately run Daily Mirror reported. "Most of these companies do not want to give us equity. We might decide to take over these companies just like we did during the land-reform exercise," Mushohwe was quoted as telling the conference. Zimbabwe's economy has been in rapid Last Friday, Mugabe signed into law controversial amendments to the Constitution that will make it impossible for the 4 000 or so white farmers who have lost their land to contest the takeovers in court. The Daily Mirror said black executives attending the conference, organised by the Confederation of Zimbabwe Industries (CZI), were unimpressed by the transport minister's comments. "What signals does this send to investors?" one executive was quoted as asking.
Economists say the new land laws, which also give ownership of all agricultural land to the state, will drive off foreign investment. But the paper said Minister of Finance Herbert Murerwa told the CZI conference that the amendments to the Constitution were not a threat to commerce and industry. "The intention [of the constitutional amendments] was to confirm the acquisition of land that had already been taken anyway. We have never said that this would apply to other forms of business," Murerwa said. It was not immediately clear how many whites still own businesses. A recent population census revealed that whites and Asians make up 0,5% of the country's 11,6-million people. | |
| Posted by:anonymous5089 |
| #10 Oh, DUH, LOL: Kellog vs. New London. Took me a moment. |
| Posted by: Secret Master 2005-09-14 13:28 |
| #9 SLO Jim: Hillary Clinton's economic plan ring any bells? |
| Posted by: Secret Master 2005-09-14 13:27 |
| #8 Hmm. The seemingly frivolous seizure of private property by the government for the alleged greater good. It seems so familiar...I can't quite put my finger on it... |
| Posted by: SLO Jim 2005-09-14 13:21 |
| #7 Are there even White Farmers left in Zim-land? I would think they all left to neighboring countries by now. |
| Posted by: Charles 2005-09-14 13:18 |
| #6 don't forget: South Africa is teh key , allowing Bob to stay afloat. China plays a small part, but if SA quit supporting Bob - he'd be gone. Thanks Mbeki, you ignorant racist asshole |
| Posted by: Frank G 2005-09-14 12:53 |
| #5 That wacky Zim-Bob! The only good to come from this will be a textbook business case on How To Ruin A Country. Too bad for the average Zim citizen/victim, though. It sucks to be you! |
| Posted by: SteveS 2005-09-14 12:36 |
| #4 Affirmative action for "persons who have been previously disadvantaged by unfair discrimination." At this point, I'd say the white farmers also fit into that category very nicely. |
| Posted by: Darrell 2005-09-14 12:03 |
| #3 Whoa. A few years ago, Zimbob had 1 million more people. even thought AIDS is (estimated) to kill 1% of the population each year, that still does not accont for the 10% population decline, especially taking into consideration the large birth rate. While other African countries are increasing 2-3% each year (in the face of AIDS and civil war), Zimbobland manages to lose 10% of its population. Bob is a special kind of leader not seen since Stalin and Pol Pot. |
| Posted by: ed 2005-09-14 11:46 |
| #2 Yo, Farmin! Check it out! I gonna be famous like you! |
| Posted by: Bidness B. Hard 2005-09-14 11:32 |
| #1 Not a big deal. It's kind of how the Fed will raise the prime rate if the economy is overheating. So clearly the Zimbabwe economy is so hot they have to cool it off by seizing businesses. Perfectly sound economic policy (if you're a $*#@!%^ moonbat). |
| Posted by: Dreadnought 2005-09-14 11:24 |