Askari Kanzu
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- Jan 7, 2011
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Zimbabwes Mugabe threatens foreign firms
March 2, 2011
InformAfrica News:
Zimbabwean President Robert Mugabe on Wednesday threatened a state-backed takeover of foreign firms and a boycott of products in retaliation for Western sanctions against him and his ZANU-PF party.
The European Union and United States have imposed a travel ban and financial sanctions on Mugabe and his ZANU-PF allies over suspected human rights abuses spanning more than a decade as well as election fraud.
It is now time to take action. Indigenisation and empowerment should start with those companies. We must take them over. We are not ashamed of that, Mugabe told thousands of supporters at an outdoor rally in the capital, Harare.
He called for a boycott of foreign products in a state with an estimated $6 billion gross domestic product which is not a major revenue generator for most foreign firms.
If we know that some of them have products which we are buying, including foodstuffs, before we seize those companies, we can boycott their products, he said.
Mugabe has said previously ZANU-PF will nationalise firms from countries that have imposed sanctions, arguing they cannot operate freely while Western powers punish his party.
The threats added to the worries of foreign investors in the resource-rich country, which introduced a law specifying 51 percent of firms worth over $500,000 should be owned by black Zimbabweans.
But we also want to hear whether they (companies) say the sanctions are evil. They should be removed, that is the likes of Barclays and Standard Chartered, Mugabe said while launching a campaign to get 2 million signatures denouncing the sanctions.
Mugabe supporters held placards saying Sanctions do kill, Start with Old Mutual while others had a hit list of foreign firms that should be taken over
Inform Africa.com
March 2, 2011
InformAfrica News:
Zimbabwean President Robert Mugabe on Wednesday threatened a state-backed takeover of foreign firms and a boycott of products in retaliation for Western sanctions against him and his ZANU-PF party.
The European Union and United States have imposed a travel ban and financial sanctions on Mugabe and his ZANU-PF allies over suspected human rights abuses spanning more than a decade as well as election fraud.
It is now time to take action. Indigenisation and empowerment should start with those companies. We must take them over. We are not ashamed of that, Mugabe told thousands of supporters at an outdoor rally in the capital, Harare.
He called for a boycott of foreign products in a state with an estimated $6 billion gross domestic product which is not a major revenue generator for most foreign firms.
If we know that some of them have products which we are buying, including foodstuffs, before we seize those companies, we can boycott their products, he said.
Mugabe has said previously ZANU-PF will nationalise firms from countries that have imposed sanctions, arguing they cannot operate freely while Western powers punish his party.
The threats added to the worries of foreign investors in the resource-rich country, which introduced a law specifying 51 percent of firms worth over $500,000 should be owned by black Zimbabweans.
But we also want to hear whether they (companies) say the sanctions are evil. They should be removed, that is the likes of Barclays and Standard Chartered, Mugabe said while launching a campaign to get 2 million signatures denouncing the sanctions.
Mugabe supporters held placards saying Sanctions do kill, Start with Old Mutual while others had a hit list of foreign firms that should be taken over
Inform Africa.com
