Wednesday, 21 November 2007

It is called theft

The Times reports that "President Mugabe unleashed a devastating new blow to Zimbabwe’s mortally wounded economy yesterday, announcing a new law giving the state a controlling stake in mines operating in the country. Under the Mines and Minerals Amendment Bill, the Government can take over 51 per cent of companies mining strategic fuels and minerals, taking 25 per cent without paying. The balance of 26 per cent it needs for a majority shareholding will be paid for, it said. However, the Bill brazenly asserts that payment will come from dividends earned from the state’s shares in the companies it takes without having to pay. It gives the state seven years in which to do it."

Rhodesia was one of the richest countries in Africa, the "bread basket of Africa" now it is just a basket-case. A very, very sad state of affairs.

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