Mugabe threatens to nationalise firms
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.