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Mugabe Vows ‘Unabated’ Pace in Zimbabwe's Ownership Plan

President Robert Mugabe said his drive to give black Zimbabweans greater control of the southern African economy will continue “unabated” following his “resounding” endorsement in the July 31 elections.

“The indigenization and empowerment drive will continue unabated in order to ensure that indigenous Zimbabweans enjoy a larger share of the country’s resources,” Mugabe said today in a speech to members of the military in Harare, the capital. “This is our final phase of implementing the ideals of the liberation struggle.”

The nation’s only leader since independence, Mugabe extended his 33-year rule in last month’s elections and his Zimbabwe African National Union-Patriotic secured a two-thirds parliamentary majority in polls which the opposition and local observers said weren’t credible.

The government won’t compensate mining companies that are forced to hand over a majority stake to black Zimbabweans or the state, Saviour Kasukuwere, minister of youth development, indigenization and empowerment, said on Aug. 6.

Anglo American Platinum Ltd. (AMS), Impala Platinum Holdings Ltd. (IMP), Barclays Plc (BARC) and Standard Chartered Plc are among companies that operate in the Zimbabwe.

Mugabe, 89, yesterday denied opposition claims that Zanu-PF rigged the elections. Outgoing Prime Minister Morgan Tsvangirai, who won 34 percent of the presidential vote, and his Movement for Democratic Change party on Aug. 9 submitted a court challenge in Harare against the results, saying 870,000 names were duplicated on the voters’ roll.

Mugabe and Tsvangirai entered a coalition government under an agreement brokered by the region’s political bloc, the Southern African Development Community, after disputed elections in 2008.

“I also thank you most sincerely for bringing to an end the unproductive inclusive government and restoring confidence in the Zanu-PF government,” Mugabe said.

To contact the reporters on this story: Godfrey Marawanyika in Harare at gmarawanyika@bloomberg.net; Franz Wild in Johannesburg at fwild@bloomberg.net

To contact the editor responsible for this story: Nasreen Seria at nseria@bloomberg.net

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