Mu­gabe threat­ens to na­tion­alise firms

Weekend Argus (Saturday Edition) - - BUSINESS -

MUTARE: Zim­bab­wean Pres­i­dent Robert Mu­gabe yes­ter­day threat­ened to na­tion­alise for­eign firms of coun­tries that have im­posed sanc­tions due to his govern­ment’s hu­man rights abuses.

Mu­gabe told a meet­ing of his Zanu-PF Party that the more than 400 Bri­tish com­pa­nies could not be al­lowed to op­er­ate freely in Zim­babwe while London main­tained sanc­tions.

The re­source-rich state in­tro­duced a law this year say­ing black Zim­bab­weans should own 51 per­cent of firms worth over $500 000 (R3.4 mil­lion).

For­eign firms op­er­at­ing in Zim­babwe in­clude An­glo Plat­inum, Im­pala Plat­inum, Rio Tinto and Stan­dard Char­tered.

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