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MARCH 12 - 25, 2008 TheTrumpet Page3
Blacks to control Zimbabwean companies
Simba Makoni President Robert Mugabe Morgan Tsvangirai
P
resident Robert Mugabe has suffered an economic crisis with routine race, and any descendant of such person.” The president’s other challenger is
signed a new law that hands shortages of food, electricity and foreign Zimbabwe won independence from white former Finance Minister Simba Makoni,
over majority ownership of all currency. rule on that date. who recently announced his bid to unseat
businesses to “indigenous” Unless the Minister of State for Mugabe, 84, has been Zimbabwe’s Mugabe and was promptly booted out of
Zimbabweans. The new law means Indigenisation and Empowerment alters only ruler since 1980. In the upcoming the ruling ZANU-PF party.
that foreign- and white-owned the share allotment, the law would mean elections, he faces two formidable The country of 12.5 million is in dire
companies operating in the country will that several banks, mining companies and opponents: a heavyweight within his own financial straits. The most recent estimate
have to surrender at least 51 percent phone companies - among other foreign party and a leading opposition figure. of the nation’s inflation rate said it
control of their operations to blacks. businesses - will have to relinquish Movement for Democratic Change exceeded 24,000 percent, but economists
Lawmakers passed the legislation last control. leader Morgan Tsvangirai this month said say it is much higher.
September but the presidential “assent” The bill, when put forward last year, that he and his party will participate in the While there is no official figure,
was announced at press time - days before described “indigenous Zimbabwean” as elections. Mugabe survived a hotly unemployment among Zimbabweans is
the March 29 Presidential and “any person who, before 18th April, 1980, contested presidential challenge from estimated at 80 percent.
Parliamentary elections. was disadvantaged by unfair Tsvangirai in 2002, amid widespread
Under Mugabe, Zimbabwe has discrimination on the grounds of his or her accusations of vote-rigging.
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