Thursday, February 18, 2010

Zimbabwe Genius: A New Slavery - Give 51% Business Equity To Unqualified, Uneducated Slavemasters

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.

7 Opinion(s):

Anonymous said...

I'm surprised that there are still any white owned businesses left in Zimbabwe. Surely they would have relocated by now?


I hope that the white owners have asset stripped their businesses and geared them to the hilt.
Anybody still continuing with a genuine effort must be mad. Interesting to see how our large insurance companies and banks that are in position there going to react. My bet is that they will continue with their corporate fellatio to the boons.

Anonymous said...

This looks too easy. Something else is at play. I think there is a lot of double dealing going on under the table. It appears that this is a prelude to what is going to happen in South Africa set for 2012/13 after the centenary of the ANC.

Anonymous said...

What corporate fellatio? Do you think those boons are going to pay back any money they've borrowed from banks?

The kindest thing you can do to a kaffir is to put a bullet through his head. No more IQ of 67, no more poverty, no more misery, end of problem.

Mugabe realises that kaffirs are a hopeless case. He doesn't want whites around because a functional white presence give kaffirs false hope.

The final solution is for kaffirs to realise their hopelessness and naturally become extinct.

Anonymous said...

Jim: There are really only three types of people: those who make things happen, those who watch things happen, and those who say, What happened?

Child grants that are small enough to keep blacks in poverty but insufficient to educate them are going to create a massive army of child soldiers.

As usual, the South African story is the story of arms dealing.

Anonymous said...

The real cause of this is not Mugabe.

It is the stupid, cowardly British Governments going back to Wilson, and also I am ashamed to say, Thatcher and "Lord" Carrington, who so ably knifed their kith and kin in the back to bring about this miracle in African social engineering.

As if this could not have been predicted; and in fact, it all WAS predicted, by anyone and everyone who had any first hand knowledge whatsoever.

The loss of Rhodesia coincided and was in fact a symptom of the collapse in British morale which continues today, and the result of which will be the loss of the UK to western civilization.

This is not hyperbole.


Anonymous said...

mugabe is a hero who have been forced to do wrong by the violent system of these racist whites. i dont see anything wrong in zimbabweans owning their wealth even if it means just a few. for the record these white racists murders took our wealth and this is the time to reverse, and weather you like it or not we are taking our land and resource