PRIME MINISTER TSVANGIARI: INDIGINIZATION LAW SUCKS

Tsvangirai is not pleased with the latest political developments in his country. He is mostly concerned about the economic collapse Zimbabwe went through these past ten years. And the direct investment outlook seems, at least according to his future forcasts, is as dim as a cloudy Zim day.

 

But the lives of ordinary Zimbabweans are said to have won a right to better standards of living. The Indiginization Law has become a palpable reality. The law requires a 51 percent stake set aside for black Zimbabweans from the mining industry. Anglo American Platinum has given up the stake in its Unki Platinum mine. Literally, nationalization of mineral resources has kicked into gear in the land of Mugabe.

 

Saviour Kasukuwere, the minister who championed the policy through parliament, expressed his gratification as follows,

"We are pleased that they [Anglo American] have fully complied with the expectations of our laws. They are way ahead of the others."
 

The Unki mine is reportedly valued at $592 million. Of this value, ten percent will go to the workers, another ten percent to the local community, local investors as a group will get their ten percent, and 21 percent will go to the economic empowerment board.

Has Zimbabwe found the cure to their ailing system of politics and economics?