Zimbabwe targets white foreign business

[El-blanco]

Anyone want to go?

[Beercules]

Anyone want to go?

Let's send Larry.

[Zaroku]

source:


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.
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.

Doesn't it amount to persecution of WHITE PEOPLE?.

fvcin ******s

The white man will easily find away around these tribal laws. LMFAO!

[BKM-]

100% agreed, but lets be honest. There are some are some dumb as shyt leaders in the African race. I mean dumb as rocks that only got to be in their position through corruption and violence.

And because the hwhite men allowed them to.

It would be 10000x better if Africans started choosing their most intelligent people to run their country. If that happened, I have no doubt in my mind that Africa would thrive.

I have doubts in your mind.

[BigNuts]

There are no successful black nations that haven't had the help of the old boogeymen whitey.

Just look at the state of Zimbabwe now the whites have been ran out.

The cheek of these racist blacks.

Yeah but look at who has been in power in these black nations over the years. If blacks best and brightest (and there are plenty of them) started running these nations instead of the typical low iq ******s, these nations would certainly thrive and prosper.

Take George W. Bush for example. He was a complete ****** and almost single handedly left this country in shambles. If America would have chosen a more competent president, the country would have not nearly have been in the bad shape it was in when he left.

[El-blanco]

Let's send Larry.

He'd love that I heard the next Floyd is there.


Or maybe the next Broner, looks to be a few billion there.

[Beercules]

He'd love that I heard the next Floyd is there.


Or maybe the next Broner, looks to be a few billion there.

[MDPopescu]

People shouldn't be allowed to hold on to something they steal, especially to detriment of those they stole it from. I am sure Western embargo will follow, and the West will blame Mugabe and not the embargo.

Why don't you go and live in Zimbabwe?

[BKM-]

Why don't you go and live in Zimbabwe?

The likes of him would rather get everything for free in a first world country from the hwhites who they hate and if they face any adversity they'll just cry racism and it will be solved for them. Something tells me he wouldn't get the same quality of life using that strategy in Zimbabwe.

[MDPopescu]

The likes of him would rather get everything for free in a first world country from the hwhites who they hate and if they face any adversity they'll just cry racism and it will be solved for them. Something tells me he wouldn't get the same quality of life using that strategy in Zimbabwe.

This kind of people will finally drag the civilised world back to the stone age...