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Africa Subsaharan
Zimbabwe state firms to buy up businesses
2007-07-23
Zimbabwe is to revive two dormant state companies to spearhead its recently announced policy of taking 51 per cent of the shares of privately owned businesses.

Obert Mpofu, the trade and industry minister, said the defunct State Trading Corporation and the Zimbabwe Development Corporation would be revived to acquire commercial and manufacturing companies. Mr Mpofu, who chairs the government’s price control task force, said his ministry had been allocated “enough funds to ensure that industry does not collapse”.

In the clearest statement to date of the government’s long-term economic policy towards private enterprise, Mr Mpofu told businessmen: “We do not want to kill you it's just business, after all but to make your business viable. Once you are in business and happy, you will also leave us to run the country.

“We want to build some kind of an orderly business environment. I will hate to reach a stage where I will be forced to take over the companies from you, but if you do not co-operate that is what is going to happen and this is the position of the government.’’
How .. Soviet of him.
More clarification is expected on Tuesday when President Robert Mugabe opens a new session of parliament, during which the takeover plans will be debated.

The governmentÂ’s indigenisation and economic empowerment bill, which is expected to become law by September, requires designated businesses to sell up to 51 per cent of their shares to Bob's friends and cronies disadvantaged black Zimbabweans.
Posted by:lotp

#10  Photo Sharing and Video Hosting at Photobucket
Posted by: Anonymoose   2007-07-23 21:20  

#9  #6: "If he'll be sitting by the pool with Idi Amin, he'll be doing it in Hell...."

From your lips to Allah's God's ear, tu. ;-p
Posted by: Barbara Skolaut   2007-07-23 20:04  

#8  No intent on my part to mislead ... the threat is to force a purchase on government terms IIUC.
Posted by: lotp   2007-07-23 19:38  

#7  Zimbabwe state firms to buy up businesses

Deliberately misleading headline, the article is about TAKING 51%, they're not BUYING anything.
Posted by: Redneck Jim   2007-07-23 18:22  

#6  If he'll be sitting by the pool with Idi Amin, he'll be doing it in Hell...
Posted by: tu3031   2007-07-23 15:27  

#5  I happened to hear a panel discussion about the Zimbabwe situation on Beeb radio with some African commentators and pols. Translating from lefty New Speak, they seemed to feel the situation would take care of itself - after there was absolutely nothing left to steal, ZimBob would quietly slink away and spend his days sitting by the pool in Saudi with Idi Amin.
Posted by: SteveS   2007-07-23 15:23  

#4  At least he wants to pay for the business; didn't good buddy Chavez just steal, uh, nationalize, the oilfields?
Posted by: USN, Ret.   2007-07-23 14:11  

#3  designated businesses to sell up to 51 per cent of their shares
"Sell", my ass. Considering they're "buying" with worthless ZimBob money...
When all that's left is dirt, Bob and his mob will be stealing that.
Posted by: Spot   2007-07-23 08:04  

#2  I would emigrate with the clothes on my back.
Posted by: Super Hose   2007-07-23 01:14  

#1  A concert in Ireland

At a U2 concert in Ireland , Bono (the lead singer) asks the audience for some quiet. Then he starts to slowly clap his hands. Holding the audience in total silence, he says into the microphone...."I want you to think about something. Every time I clap my hands, a child in Africa dies."

A voice from the front of the audience yells out...."Then stop clapping, ya ass****!"



You Got To Love the Irish
Posted by: Besoeker   2007-07-23 00:44  

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