Zimbabwean president Robert Mugabe has threatened to seize foreign-owned mining and other companies in the country to check their "dirty
tricks" that kept prices of basic goods high in spite of rampant inflation. Mugabe held manufacturers and retailers responsible for the country's high
inflation rate (around 5,000 per cent) and warned that business managers who raise prices will be arrested. He accused them of economic sabotage
in the country to overturn his government.
A legislation to nationalise the mines has already been introduced in parliament. It asks for a 51 per cent equity stake for Zimbabweans (black
nationals) who had previously been disadvantaged because of their race.
Meanwhile, the Democratic Republic of the Congo deported around 350 foreigners and closed many mining depots on June 27 to stamp out illegal
mineral sales in Katanga province.This has sparked protests from hundreds of mining diggers who blocked the streets in Kolwezi town.
We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.
.png)
Comments are moderated and will be published only after the site moderator’s approval. Please use a genuine email ID and provide your name. Selected comments may also be used in the ‘Letters’ section of the Down To Earth print edition.