Zimbabwe’s President Threatens to Nationalize US, British Companies
Zimbabwe's president, Robert Mugabe, says that unless Western economic sanctions against Zimbabwe are lifted, he will nationalize all U.S. and British companies in the country.
President Mugabe made the comments Friday at a conference of his ruling ZANU-PF party.
Under empowerment laws, black Zimbabweans are slated to acquire 51 percent of businesses with assets of $500,000 or more. But Mr. Mugabe warned that could be changed to 100 percent if sanctions persist.
At the conference, the ruling party is expected to endorse President Robert Mugabe's proposal to hold elections in the middle of next year, and is expected to choose Mr. Mugabe to be its candidate.
Earlier this month, Mr. Mugabe told the Sunday Mail newspaper that Zimbabwe's unity government is only semi-legal and that he is unhappy being a part of it.
Mr. Mugabe and opposition leader Morgan Tsvangirai formed the government under international pressure following disputed 2008 polls. Mr. Tsvangirai won the first round of the presidential election, but dropped out after members of Mr. Mugabe's party attacked his party.
Mr. Tsvangirai also says another election is needed to deal with what he called the “illegitimacy” following the 2008 vote.
The 86-year-old Mr. Mugabe has ruled Zimbabwe since its independence in 1980.
Article by VOA News