This knuckle head is the single best example of why blacks have no hope of ever being able to take care of themselves. Walking bipedally seems to have been their best achievement to date.
A law which was passed during 2007 - when parliament was still dominated by lawmakers loyal to President Robert Mugabe - and which requires white businessmen and women to cede control of their companies to black partners, comes into effect from March 1 2010.
Immediately upon notice that this was to be implemented being given, Zimbabwean Prime Minister, Morgan Tsvangirai, moved swiftly to reject these new racist laws that will invariably cause irreparable harm to an already fragile economy :
"I am in charge (You are in charge of nothing, and the only person that doesn't know, is you) of all policy formation in cabinet and neither myself nor the cabinet were shown these regulations before they were gazetted. They were published without due process as detailed in the constitution and are therefore null and void."
On Wednesday Mugabe countered by saying that his government's drive to transfer majority control of foreign-owned firms to local blacks was justified and that wise investors would continue to put money into the country. (Holy shit, you mean I have missed an opportunity?)
Unfortunately he failed to clarify how these wise investors would benefit from surrendering control of their companies or why they would want to invest money into business ventures over which they had no control. (Yes, ask any businessman that has had either a 50:50 split or has been in a minority position, how it hamstrings decision making; and that's without a freeloading black partner)
Minister of Indigenisation and Empowerment Saviour Kasukuwere (Are you serious? Did you choose your name especially?), a Mugabe ally in Zimbabwe's fractious unity government, told foreign firms last week to present plans on how they would transfer 51 percent shareholdings to local blacks within 45 days from March 1.
Mugabe rejected claims that the implementation of a law passed in 2007 would frighten off foreign investors :
"Forty-nine percent is a hell lot of equity, it is only the foolish ones who will say so," he told reporters. "Wise ones will take it up." (Hahahahaha, this is hilarious. You see this translates into, "We blacks are so fucking smart, and have been held back for so long, that if we unleash that latent business potential then hold on. The ride will be wildly rewarding; that 49% will be more than enough)
This dispute highlights the continuing divide between the MDC and Zanu-PF elements within the coalition and explains why this week the European Union decided to extended sanctions on Zimbabwe for another 12 months.
Having told an international tourism investment conference, hosted by Zimbabwe, that foreign investors should partner African states to develop the sector Mugabe was scathing on the EU decision calling it a punitive measure for his seizure of white commercial farms to resettle landless blacks.
"We know their attitude, they don't want anyone, any country in the developing world, to make any meaningful developmental strides."
In truth the overwhelming majority of farms seized went to "landless" cronies with no expertise in farming whatsoever which occasioned the destruction of Zimbabwe's most important sector - agriculture.
The Indigenisation Law involves a list of people considered suitable being kept by the Minister - a Mugabe ally - and being given shares in the companies concerned.
Accordingly the currently barren land (highly fertile when they acquired it) cronies will shortly also become the shareholding cronies of soon to be going out of business companies cronies. Unless Mugabe is seriously suggesting that people who slave away daily to make their business's work in that economy are now going to be willing to do it for the benefit of people whose only claim to fame is that they are Mugabe's cronies.
Those businesses will be stripped of whatever value is capable of being cashed out and the rest left to rot.
New investors will be as scarce as people who admit to being Auto & General Lions season ticket holders.
Here's another fine mess you've gotten Zimbabwe into Bob.
Source: Richmark Sentinel