Foreign firms in Zimbabwe threatened by indigenization policy

Companies owned by foreigners face closure unless they sell or give up 51 percent of their shares to black Zimbabweans by April 1, announced Indigenization Minister Patrick Zhuwao. “Comply by that date or close shop, comply by that date or face the full wrath of the law,” Bloomberg quotes Zhuwao, who is also President Robert… Read More Foreign firms in Zimbabwe threatened by indigenization policy

Zimbabwe impounds South Africa bound cargo plane containing a dead money and stacks of cash

Authorities in Zimbabwe have impounded a South Africa bound cargo jet with a dead body and millions of South African rand on board, a senior official said on Monday. Civil Aviation Authority of Zimbabwe general manager David Chawota confirmed a plane registered with Western Global Airlines was impounded at Harare International Airport on Sunday. A… Read More Zimbabwe impounds South Africa bound cargo plane containing a dead money and stacks of cash

Zimbabwean President, Robert Mugabe, reads wrong speech

Zimbabweans generally don’t laugh or get excited about President Robert Mugabe’s speeches, given the level of poverty and reported human rights abuses in the southern African country. But an unprecedented slip-up in a speech by the 91-year-old leader on Tuesday has changed the mix. Instead of a speech officially opening Parliament, Mugabe read his State… Read More Zimbabwean President, Robert Mugabe, reads wrong speech