Results 1 to 7 of 7

Thread: Zimbabwe - 51% Nationalisation Issue

  1. #1
    Bronze Member Miro Bagrov's Avatar
    Join Date
    Dec 2011
    Location
    Pretoria, South Africa
    Posts
    152
    Thanks
    34
    Thanked 51 Times in 41 Posts
    Blog Entries
    2

    Question Zimbabwe - 51% Nationalisation Issue

    I want to ask what eveyone thinks of the latest nationalisation Mugabe anounced in Zim

    The news reports that the government is deffinately nationalising 51% of foreign owned banks and mines. Among them Barkleys, and Standard Chartered.
    The banks stopped issuing loans in Zimbabwe. The government made them an ultimatium to sell 51% to locals, or be nationalised 51% by the government.

    This seems to be very under the rug in big news stations and I don't wonder will the foreigners make any attempt to stop this?

  2. #2
    Diamond Member Justloadit's Avatar
    Join Date
    Nov 2010
    Location
    Johannesburg
    Posts
    3,480
    Thanks
    134
    Thanked 695 Times in 593 Posts
    Blog Entries
    1
    Not much one can do. How do you stop it.
    The country will simply spiral further in to the abyss.
    There is no way that anyone will do any kind of investment in a country which changes the laws to suite the elite at a whim.

    Some time in the future, after the dust has settled, all this will have to be reversed at a great expense to the country, or there will be no interenational investment to uplift the country by the very corporates who would have lost their shares with the up and coming nationalization process.

    All these things also happened in Mozambique and Angola, and until the present governements changed, the countries remained in a stagnant state.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za

  3. #3
    Bronze Member Miro Bagrov's Avatar
    Join Date
    Dec 2011
    Location
    Pretoria, South Africa
    Posts
    152
    Thanks
    34
    Thanked 51 Times in 41 Posts
    Blog Entries
    2
    It's interesting to me that no foreign powers have kicked any dust about this.

    In the 60's presidents were assassinated for threatening nationalisation in Latin America. Why is no one even raising an eyebrow for foreign interest this time?

  4. #4
    Diamond Member wynn's Avatar
    Join Date
    Oct 2006
    Location
    east london
    Posts
    3,338
    Thanks
    548
    Thanked 625 Times in 524 Posts
    Aah this is 'Africa' where all the countries are forced to go to the basement before the 'Big Men' get off with what they have stolen before the lift can start to go upwards, some countries like Zim just have a multilevel basement.
    "Nobody who has succeeded has not failed along the way"
    Arianna Huffington

    Read the first 10% of my books "Didymus" and "The BEAST of BIKO BRIDGE" for free
    You can also read and download 100% free my short stories "A Real Surprise" and "Pieces of Eight" at
    http://www.smashwords.com/books/view/332256

  5. #5
    Gold Member Phil Cooper's Avatar
    Join Date
    Nov 2010
    Location
    Midrand
    Posts
    645
    Thanks
    0
    Thanked 170 Times in 118 Posts
    Thjere is no oil there. And the yanks grow tobacco. So it suits them to let it disappear.

  6. #6
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,649
    Thanks
    3,305
    Thanked 2,676 Times in 2,257 Posts
    Blog Entries
    12
    Mugabe's indiginisation program has been coming for a while now. I'm sure one way or another the affected have made suitable preparations to minimise their losses.

    I suspect the Zim government is going to find themselves 51% owners of very little in terms of real nett value.

  7. #7
    Bronze Member Miro Bagrov's Avatar
    Join Date
    Dec 2011
    Location
    Pretoria, South Africa
    Posts
    152
    Thanks
    34
    Thanked 51 Times in 41 Posts
    Blog Entries
    2
    @ Phil - true, maybe they are just a small player. Or, possibly the timing is right, since all those nations are focused on the middle east.

    @ Dave - I agree, the businesses will boycott or sell off, or maybe try something more complicated. Since they have the option to give 51% to local black zims, maybe they will start by setting up dummy front companies they way they did in early BBE days here.

    Then the next question is, will this spill over into South Africa.
    My biggest fear is that if they get away with it. Given how closely tied the two nation's politicians are, they will use it as a blueprint here.
    In that case, all our local business and investment is at risk...

    For example, notice the close timing of Zimbabwean land grab and local Land Claims. Very similar way of thinking at a similar time.

Similar Threads

  1. Doing business in Zimbabwe
    By nigelm in forum General Business Forum
    Replies: 12
    Last Post: 21-Apr-10, 08:25 AM
  2. [Article] 2.1 'Nationalisation will save rich'
    By BBBEE_CompSpec in forum Labour Relations and Legislation Forum
    Replies: 4
    Last Post: 08-Dec-09, 02:35 PM
  3. Zimbabwe
    By Yvonne in forum South African Politics Forum
    Replies: 3
    Last Post: 31-Oct-07, 10:19 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •