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    December 08, 2011

Mugabe: Majority Stake in All Zimbabwe Businesses will be Black

   Peta Thornycroft | Johannesburg
   Zimbabwean President Robert Mugabe addresses supporters in Harare,
   July, 20 2011
   Photo: Reuters
   Zimbabwean President Robert Mugabe addresses supporters in Harare,
   July, 20 2011

   Zimbabwe President Robert Mugabe said Thursday that there will be no
   turning back on policy of black ownership of Zimbabwe's businesses. He
   made the statement at his Zanu PF party's annual conference. Zimbabwe's
   leader told thousands of delegates that the country achieved a military
   victory over minority white rule in 1980, has taken back land from
   white farmers since 2000, and now will give a majority stake in all
   businesses to blacks.
   Mr. Mugabe looked physically fit and sounded mentally alert as he
   rallied his party faithful in a two-hour speech in Bulawayo, a city
   where most people do not support the Zanu PF party.
   He denounced this year's NATO campaign in Libya and said that country's
   former leader Moammar Gadhafi was naïve to trust the West.
   Mr. Mugabe said that Zimbabwe wants foreign investment or partners.
   About 4,000 delegates sang and applauded President Mugabe when he told
   them that Zimbabwe's natural resources should be used to ensure the
   prosperity of local, not foreign, children.
   "Sure we want partners, sure, but let the majority of the companies be
   our companies,": he said.
   Mr. Mugabe singled out mining companies for majority ownership in what
   is known in Zimbabwe as "indigenization." 'We insist that our people
   get not less than 51 percent in each and every mining company in the
   country. The law is there, the Indigenization and Empowerment Act. It
   is there now and it was passed," he said.
   Several political and financial analysts say most foreign mining
   companies so far have not been forced to part with more than 10 percent
   of their shares to local communities or company workers.
   Mr. Mugabe also said elections would be held next year in Zimbabwe.
   Multi-party committees trying to reform legislation and draft a new
   constitution say they doubt that a vote can be held before 2013, when
   Mr Mugabe will be 89-years-old.
   The party's 10 provincial executives have endorsed him to lead the Zanu
   PF party in the next elections.
   Analysts say new elections would likely end the inclusive government
   with Prime Minister Morgan Tsvangirai's Movement for Democratic Change
   and the small MDC lead by Welshman Ncube. The unity government emerged
   after the two MDC's defeated the Zanu PF party in a disputed and
   violent 2008 vote.
   Mr. Mugabe told party delegates to prepare for a vote. '[The] time has
   come now for us to prepare for elections. The time has come for us to
   straighten ourselves to go to elections and let people choose a
   government of their own liking," he said.
   President Mugabe also called on the Zanu PF party to renounce violence.
   Most human rights organizations say that Mr Mugabe's supporters
   murdered hundreds of MDC supporters during the 2008 elections.
   This week's annual party conference ends on Saturday.

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