Zimbabwe orders 'white firm grab'

Dec 8, 2004
48,602
20,930
693
Maine
#1
Zimbabwe orders 'white firm grab'

Robert Mugabe aims to give more ownership to indigenous people

The Zimbabwean parliament has passed a bill to move majority control of foreign-owned companies operating in the country to black Zimbabweans.

The goal is to ensure at least a 51% shareholding by indigenous black people in the majority of businesses.

The bill completes a process that began with the controversial seizure of white-owned farms starting in 1999.

Zimbabwe is currently experiencing the world's highest inflation and shortages of food, fuel and foreign currency.

The bill still has to go to the upper house - the Senate - for final approval. It already has the support of President Robert Mugabe's government.
If passed in the Senate, the practical effect of the bill may, however, be severely limited, says the BBC's Peter Biles in Johannesburg.

Many foreign companies in Zimbabwe are already operating at a low level, with reduced turnover resulting from the seven-year economic crisis.

51% share

Critics have said the Indigenisation and Economic Empowerment Bill could hurt investor confidence in Zimbabwe.

It stipulates that no company restructuring, merger or acquisition can be approved unless 51% of the firm goes to indigenous Zimbabweans.

If we do not dismantle the structure of colonialism that we inherited then we have not given back all the country's resources to its rightful owners


Paul Mangwana
Economic Empowerment Minister



The empowerment bill defines "indigenous Zimbabwean" as anyone disadvantaged by unfair discrimination on race grounds before independence in 1980.

It also provides for the establishment of an empowerment fund which will offer assistance to the "financing of share acquisitions" from the public-owned firms or assist in "management buy-ins and buy-outs."

MPs from the governing Zanu-PF party supported the bill in parliament on Wednesday.

"If we do not dismantle the structure of colonialism that we inherited then we have not given back all the country's resources to its rightful owners, who are our people," Indigenisation and Economic Empowerment Minister Paul Mangwana said, quoted by Reuters news agency.

Members of the opposition Movement for Democratic Change (MDC) walked out of parliament in protest at the bill before voting began.

"We see it as a strategy to amass wealth by the ruling elite, and nothing to do with the empowerment of people," MDC spokesman Nelson Chamisa told the BBC News website.

All government departments and statutory bodies will be asked to obtain 51% of their goods and services from businesses in which controlling interest is held by indigenous Zimbabweans.



Some firms dually listed on the Zimbabwe Stock Exchange and London Securities Exchange firms include Old Mutual, NMB bank and Hwange.

Multi-national firms that may be affected by the new policy include Barclays Bank, Bindura Nickel Corporation and miner Rio Zim.

Senior British officials say the Zimbabwean government will be disappointed if it thinks it will gain much of value from the move.


http://news.bbc.co.uk/2/hi/africa/7015039.stm



Wonder if they will start with the KFC's wacka wacka
 

Treat_Yourself

Registered User
Nov 17, 2006
548
0
0
#2
First he takes the white farmer's land away and people start starving. He decides that food is too expensive, so he orders the stores to sell food for less than what it costs them, so the stores shut down. Now he's going to take over all the white owned businesses in the country. That Mugabe idiot is doing more damage to black Africans than AIDS and other black Africans combined.
 

d0uche_n0zzle

**Negative_Creep**
Sep 15, 2004
46,670
6,859
693
F.U.B.A.R
#3
It really is a shame that blacks for the most part, can not run anything in that shithole known as Africa without whitey. The sooner they realize it, the better off they'll be.
 

TheDrip

I'm bi-winning.
Jan 9, 2006
5,051
3
228
#4
Who in the fuck would open a business in Zimbabwe anyhow? I'd rather open an American flag shop in Syria than ANY type of business in a country with a shitdick like Mugabe running it.
 
Feb 20, 2006
8,646
549
521
**** Island
#5
Senior British officials say the Zimbabwean government will be disappointed if it thinks it will gain much of value from the move.

White-speak for "try it ******"
 

grail

Tahini sauce in my drawers
Sep 24, 2005
3,626
0
0
MN
#6
They'll also say sure you can have 51% control, as they put the sign up saying closed for business, moving.
 

Creasy Bear

gorgeousness and gorgeousity made flesh
Donator
Mar 10, 2006
48,378
36,392
628
In a porn tree
#7
It worked like a charm for Uganda back in the 1970's. Idi Amin kicked out all the whites and Asians, and turned over control to "the natives".

It took less than a year for one of the most advanced and prosperous countries in Africa to revert back to the stone age.

Silly negroes. :icon_roll
 

MrAbovePar

En Taro Anthony
Mar 14, 2005
13,775
3,168
678
Covington. La
#9
I would.

I'd sell AK-47s, machetes, and grape soda.

Cha-ching!
Don't accept Z-bucks though.

A few years back Zimbabwe was rallying to have major accounting programmers add in fields to their software so using it for Zimbabwe currency. Apparently they couldn't use it for high value items because there wasn't enough room.
 

abudabit

New Wackbag
Oct 10, 2004
14,802
0
0
#11
Inflation in Zimbabwe is the highest in recorded history. Some economists predict that by 2010 it will reach several million % per year. I would just start bartering instead of using money if I lived in Zimbabwe.

And of course the ******* won't over throw him.
 

Budyzir

There's nothing quite like a shorn scrotum.
Nov 12, 2004
7,307
1
0
Queens, NY
#14

abudabit

New Wackbag
Oct 10, 2004
14,802
0
0
#16
:haha7:Zimbabwe 'running out of bread'

Reports from Zimbabwe say bakeries have run out of flour and there will be no bread in the foreseeable future.

The Agriculture Ministry has confirmed that this year's wheat harvest yield of 145,000 tonnes is only one third of the country's requirements.

Agriculture Minister Rugare Gumbo is quoted as blaming the shortages on the failings of what he called the "new farmers" created by the land reforms.


Last week, the government announced it would import 100,000 tonnes of wheat.

But even that would still leave Zimbabwe short of its 400,000 tonne target for this year.

And it appears that a shortage of hard currency has already stranded a shipment of 35,000 tonnes of imported wheat at the Mozambican port of Beira.

Last week, Zimbabwe's main bread producer Lobels Bread said it had scaled back its operations by 80% and had only two days' supply of flour left.

The AP news agency says stores across Zimbabwe are now telling customers that bread will not be available until further notice.

The blame game

The Sunday Mail newspaper in Zimbabwe reported that this year's production was badly affected by erratic power supplies that resulted in some farmers completely abandoning their crop at germination levels because of the failure to irrigate.

Other reports quoted the agriculture minister as pinning the blame on farmers.


This year's maize harvest is expected to be dire

Speaking last Thursday at the Zimbabwe Farmers' Union (ZFU) national congress in Masvingo Minister Gumbo said: "I am disappointed that our new farmers have proved to be failures since the start of the land reform programme in 2000."

"In spite of all the support government has been pouring into the agricultural sector, productivity and under-utilisation of land remain issues of concern," he added.

And he admitted that he was "painfully aware of the widespread theft of stock, farm produce, irrigation equipment and the general vandalism of infrastructure by our new farmers".

Zimbabwe Commercial Farmers Union director Mr Phillip Tavuyanago told the Sunday Mail the failed harvests meant wheat farmers would be heavily affected in terms of paying back loans accessed during the winter programme.

Critics have blamed President Mugabe's policies, especially the seizure of farms from their former white owners, for ordinary Zimbabweans' hardship.

A foreign currency crisis has helped push inflation to record levels in recent months.

Government price controls have been blamed for worsening shortages.

For his part, President Mugabe has accused foreign governments of trying to interfere in Zimbabwe's affairs - saying some businesses had raised prices without justification as part of a Western plot to oust him.

:haha7::haha7: "Redistribution" (commie lingo for theft) fails again. :haha7::haha7:
 

Budyzir

There's nothing quite like a shorn scrotum.
Nov 12, 2004
7,307
1
0
Queens, NY
#17
:haha7:Zimbabwe 'running out of bread'

Reports from Zimbabwe say bakeries have run out of flour and there will be no bread in the foreseeable future.

The Agriculture Ministry has confirmed that this year's wheat harvest yield of 145,000 tonnes is only one third of the country's requirements.

Agriculture Minister Rugare Gumbo is quoted as blaming the shortages on the failings of what he called the "new farmers" created by the land reforms.

Last week, the government announced it would import 100,000 tonnes of wheat.

But even that would still leave Zimbabwe short of its 400,000 tonne target for this year.

And it appears that a shortage of hard currency has already stranded a shipment of 35,000 tonnes of imported wheat at the Mozambican port of Beira.

Last week, Zimbabwe's main bread producer Lobels Bread said it had scaled back its operations by 80% and had only two days' supply of flour left.

The AP news agency says stores across Zimbabwe are now telling customers that bread will not be available until further notice.

The blame game

The Sunday Mail newspaper in Zimbabwe reported that this year's production was badly affected by erratic power supplies that resulted in some farmers completely abandoning their crop at germination levels because of the failure to irrigate.

Other reports quoted the agriculture minister as pinning the blame on farmers.


This year's maize harvest is expected to be dire

Speaking last Thursday at the Zimbabwe Farmers' Union (ZFU) national congress in Masvingo Minister Gumbo said: "I am disappointed that our new farmers have proved to be failures since the start of the land reform programme in 2000."

"In spite of all the support government has been pouring into the agricultural sector, productivity and under-utilisation of land remain issues of concern," he added.

And he admitted that he was "painfully aware of the widespread theft of stock, farm produce, irrigation equipment and the general vandalism of infrastructure by our new farmers".

Zimbabwe Commercial Farmers Union director Mr Phillip Tavuyanago told the Sunday Mail the failed harvests meant wheat farmers would be heavily affected in terms of paying back loans accessed during the winter programme.

Critics have blamed President Mugabe's policies, especially the seizure of farms from their former white owners, for ordinary Zimbabweans' hardship.

A foreign currency crisis has helped push inflation to record levels in recent months.

Government price controls have been blamed for worsening shortages.

For his part, President Mugabe has accused foreign governments of trying to interfere in Zimbabwe's affairs - saying some businesses had raised prices without justification as part of a Western plot to oust him.

:haha7::haha7: "Redistribution" (commie lingo for theft) fails again. :haha7::haha7:
This is what I'm talking about, the "white" land owners were experienced farmers and fed the country but, were brutally forced off their lands.

So Mugabe's government blames the farmers;

Agriculture Minister Rugare Gumbo is quoted as blaming the shortages on the failings of what he called the "new farmers" created by the land reforms.
Speaking last Thursday at the Zimbabwe Farmers' Union (ZFU) national congress in Masvingo Minister Gumbo said: "I am disappointed that our new farmers have proved to be failures since the start of the land reform programme in 2000."
"In spite of all the support government has been pouring into the agricultural sector, productivity and under-utilisation of land remain issues of concern," he added.
How long before these "farmers" return to their savage, revolutionary roots and put Mugabe's head on a pole?


You reap what you sow.
 

Creasy Bear

gorgeousness and gorgeousity made flesh
Donator
Mar 10, 2006
48,378
36,392
628
In a porn tree
#18
Agriculture Minister Rugare Gumbo is quoted as blaming the shortages on the failings of what he called the "new farmers" created by the land reforms.
Read between the lines...

And he admitted that he was "painfully aware of the widespread theft of stock, farm produce, irrigation equipment and the general vandalism of infrastructure by our new farmers".
The Sunday Mail newspaper in Zimbabwe reported that this year's production was badly affected by erratic power supplies that resulted in some farmers completely abandoning their crop at germination levels because of the failure to irrigate.
All of the farms were equipped with diesel generators. The "power outages" were never a problem for the white farmers. Zimbabwe's power supply has always been erratic.

The "new farmers" never even attempted to make the farms run, they just looted the farms of everything of value they could carry off, and then they abandoned them. One of the first things to go on every farm was the power generating equipment... diesel engines, lots of valuable copper in the motor/generator windings- you get the picture.

This is exactly what happened in Uganda back in the 70's... Idi Amin kicked out all of the white and Asian business owners, and then he handed over control of their businesses to his family members and political cronies... who promptly looted the companies of every nickel they could grab and transfer into Swiss bank accounts. When I say promptly, I mean with a quickness... companies that had been in operation for over a hundred years in some cases, ceased to exist within a matter of weeks.

"Those who don't learn from history are doomed to repeat it."

Africa's worst enemy is Africans.
 

Zona992006

New Wackbag
Jan 26, 2007
4,129
1
0
#19
It really is a shame that blacks for the most part, can not run anything in that shithole known as Africa without whitey. The sooner they realize it, the better off they'll be.
Same is true with those damn Indians (I mean they didnt run ((what turned into America)) very well before the white man came and "discovered it").

"White-speak for "try it ******""


Thank God for Douches. LOL
 

Creasy Bear

gorgeousness and gorgeousity made flesh
Donator
Mar 10, 2006
48,378
36,392
628
In a porn tree
#20
Same is true with those damn Indians (I mean they didnt run ((what turned into America)) very well before the white man came and "discovered it").

Thank God for Douches. LOL
Yep... it's like Al Swerengen said... those prairie naggers were the original slow fucking learners.
 
Feb 20, 2006
8,646
549
521
**** Island
#21
Same is true with those damn Indians (I mean they didnt run America very well before the white man came and "discovered it").

You're right. They would still be living in the Stone Age just like most Africans if the white man hadn't come along. Lucky you.
 

THE FEZ MAN

as a matter of fact i dont have 5$
Aug 23, 2002
41,699
9,153
768
#22
what is really sad is most of the whites in africa have been there for generations, and love there countrys, my mother works for a family from south africa that was driven off there land and forced to move to america back in the early 90's they truely had no were else to go, and wish they could go back but there is nothing left for them there, its a shame,
 

Vyce

Light-skinned, with no Negro dialect.
Feb 11, 2006
8,171
10
496
Washington D.C.
#23
Not to joke around, but seriously, since you mentioned it, Mugabe really seems to be posed to take Zimbabwe back to the fucking stone age. This is a fucking epic meltdown here.
 

THE FEZ MAN

as a matter of fact i dont have 5$
Aug 23, 2002
41,699
9,153
768
#24
and its spreading,
 

Zona992006

New Wackbag
Jan 26, 2007
4,129
1
0
#25
You're right. They would still be living in the Stone Age just like most Africans if the white man hadn't come along. Lucky you.
Yup, and I appreciate the whole slavery thing. Fun times. Imagine what would have happened to this country if you didnt have all that free labor? You could almost say the laborers are the ones who built this country. I am pretty sure the union sucked back then though.

Ah yes, the good old days.

Well they are gone now. Damn. The damn mexicans coming in. All these other imigrants coming to this fine country.

Pretty soon, no more white, brown or black...just one color....:huh:

Then what, hate them for their voices? Height, or eye color?