Agree to our 51 percent control of businesses or stay away, Mugabe tells investorsBy AP
Thursday, September 30, 2010
Agree to our terms or go, Mugabe tells investors
HARARE, Zimbabwe — President Robert Mugabe says investors who don’t accept black Zimbabweans as the major shareholders in their projects can stay away from the southern African nation.
Strict empowerment laws scheduled for phased enforcement over the next five years require black Zimbabweans to control 51 percent of each business.
At the funeral of a veteran leader in his ZANU-PF party Thursday, Mugabe acknowledged the laws may deter potential investors, but said anyone who wanted to share the nation’s resources “must get our permission to do so, in the manner we define” or stay away.
Prime Minister Morgan Tsvangirai and his party leaders in a coalition with Mugabe boycotted the funeral it described as ZANU-PF event and not a state occasion.