Mugabe’s call for 100% ownership is ‘lunacy’

100% Lunacy – Zimbabwe Vigil Diary: 8th December 2012

Mugabe’s call for 100% ‘indigenous’ ownership of companies in Zimbabwe is an invitation to a new wave of looting which will end foreign investment, killing any prospect of economic growth while Zanu PF is in power. And remaining in power is what the policy is about.

Speaking at the Zanu PF conference in Gweru, Mugabe said: ‘The notion that capital is more important than any other factors is nonsense.’ He added that the notion was ‘dirty, filthy and criminal.’

Launching a blatant vote-buying campaign for re-election, he said of indigenization: ‘I think now we have done enough of 51 percent. Let it be 100 percent’.
(See: – Mugabe backs 100% black ownership of Zimbabwe-based firms).

Mugabe said that if foreign owned companies don’t want to abide by these rules they should go away.  And so they will. Ironically Mugabe’s new policy was announced on the same day as the economist Eric Bloch wrote in a newspaper article that foreign investment is essential for Zimbabwe.

He said: ‘There is an abysmal and contemptuous disregard for the irrefutable fact that the country desperately needs such investment in order to attain substantive growth of its economy. That growth is critical if a comprehensive reduction of the overwhelming unemployment that has plagued Zimbabwe for too long is to materialise’.
(See: – Barriers to investment on the increase).

The Vigil believes the welfare of ordinary Zimbabweans has never been of concern to Mugabe. The only growth that counts for him is in the money he can spend to ensure he stays in power. And, thanks to diamonds, he has shown there is a lot of that.

News that Zimbabwe was to be discussed at the SADC meeting in Dar es Salaam should have given us encouragement. After all, SADC laid down the rules for the next elections and is supposed to enforce them. But following the recent comments by President Zuma’s adviser Lindiwe Zulu we are expecting nothing. She said of the lack of progress in the constitution-making exercise merely that she hoped the political parties would ‘try to move the process quicker than it is moving at the moment’.

Ms Zulu wouldn’t say who was responsible for the deadlock but everyone knows and until South Africa faces up to Mugabe’s intransigence there can be no progress and no fair elections (see: Zuma team meets political parties over constitutional deadlock)