100% Lunacy: Zimbabwe Vigil

President Robert Mugabe’s call for 100% ‘indigenous’ ownership of companies in Zimbabwe is an invitation to a new wave of looting which will end foreign investment, killing any prospect of economic growth while Zanu (PF) is in power. And remaining in power is what the policy is about. At his party’s recent conference, launching a blatant vote-buying campaign for re-election, Mugabe said of indigenization: ‘I think now we have done enough of 51 percent. Let it be 100

Ironically this new policy was announced on the same day as the economist Eric Bloch wrote in a newspaper article that foreign investment is essential for Zimbabwe. He said: “There is an abysmal and contemptuous disregard for the irrefutable fact that the country desperately needs such investment in order to attain substantive growth of its economy. That growth is critical if a comprehensive reduction of the overwhelming unemployment that has plagued Zimbabwe for too long is to materialize.”The Vigil believes the welfare of ordinary Zimbabweans has never been of concern to Mugabe. The only growth that counts for him is in the money he can spend to ensure he stays in power. And, thanks to diamonds, he has shown there is a lot of that.

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