Mugabe'��s 51% Indigenisation Policy Takes Effect Jan. 1, 2014.
Zimbabwe, Africa

The Zimbabwean government of Robert Mugabe has ordered foreign business owners in the country to relinquish 51 per cent of their businesses to the locals.

Business owners that are not ready to comply with the Indigenisation Policy, which will take effect on January 1, will be asked to leave the country.

The countrys economic empowerment legislations passed in 2007 reserved for locals, retail and wholesale businesses barbers shop beauty salons bakeries, employment agencies and grain milling.

Zimbabwe's Senator, David Coltart, said that the decision was due to the rising unemployment rate in the country.

“Our Economy is in trouble with a very high unemployment rate,” he said.

A foreign analyst from the Nigerian Institute of International Affairs, Professor Charles Dokubo, says the laws of every land must be respected irrespective of the relations enjoyed.

“Every nation has a way of developing its own economy. The nationals of the country should have a stake in the economy. If not the survival of the state will be at stake. If everything is owned by foreigners it becomes difficult for the country to strategize and implement development plans,” Professor Dokubo said.

However, Liborous Oshoma, a Lagos lawyer, says that the application of the law was a retroactive one.

��It is not done anywhere in the world. Asking the law to apply retroactively means that if you are already in business you need to give locals 51 per cent. This should not be allowed to stand.

��Nigerians should take it up and if the government refuses to concede, we should do what is called retaliation in international diplomacy.

��We should retaliate with the same kind of foreign policy, he stated.

It is mandatory that foreign nationals who intend to stay in Zimbabwe and do business there must obtain the indigenisation certificate and must be prepared to own just 49 per cent of their businesses.

He wasn't happy with shutting down the agriculture production there so now he is going to shut down what little economy they have. He must be Obama's mentor. What an idiot.

I'm sure that the foreign business owners will indeed pack up and move to another needy country that will bee glad to have them.
Dictators like Mugabe and Zuma like Communism. They pretend that it is a peoples government while they hide behind it and loot and kill. Someday, maybe people will wake up and realize that communism is a failed system that has never worked and never will. People in Zimbabwe eat rats while the thieves in power fly off to Europe for their pleasure.



USAID sends millions to Zimbabwe, though very little reaches the people. South Africa will soon follow.

Mugabe to deepen black 'wealth transfer'


HARARE (AFP) – Fresh from its landslide election victory President Robert Mugabe's party said Tuesday it would intensify the transfer of economic wealth to black Zimbabweans and overhaul the country's "British" education system.
"We are saying we have to deepen and broaden the indigenisation and empowerment programme," ZANU-PF secretary for information Rugare Gumbo told AFP.

"It must cover a wide range of people," he said.

In a full page advert carried only in the private media -- some fiercely critical of the government -- ZANU-PF said it was "ready" to start applying the policies listed in its election manifesto.

"Over the next five years, Zimbabwe is going to witness a unique wealth transfer model that will see ordinary people take charge of their economy," the party vowed.

After a series of farm seizures, in 2007 Mugabe passed a law which stated large foreign-owned entities may be liable to cede 51 percent of their ownership.
So far only mines have been targeted.

Gumbo said there also plans to change the British-modelled school curriculum.
"We want to change the curriculum, it reflects the British education system, which is not benefiting our people," he said.
"We want a curriculum which is indigenous, which looks at Zimbabwean history, society and culture."

Despite its economic woes, Zimbabwe still has one of Africa's highest literacy rates.

Investors have expressed concerns about the plans of Mugabe's new government.

The Zimbabwe Stock Exchange's main Industrial Index fell 1.7 percent Tuesday, following Monday's 11 percent plunge.

Local shares in Barclays fell 20 percent amid fears foreign banks could become the next target for Mugabe's indigenisation efforts.

Gumbo said the government would be looking east for funding for economic projects.
"We will also want to go to our friends in the East because the West seem not to be cooperating."

Western powers have voiced serious concern over irregularities in last week's election.

I guess that's racism?

Wonder what Obozo will come up with to blame the next Benghazi on?