Zimbabwe encourages foreign investments

Recently, South Africa Foreign Minister Nkosazana Dlamini-Zuma questioned the wisdom of "smart sanctions" imposed on the Zimbabwean government by Western countries, particularly the European Union (EU). How can you attract foreign investments if your country is the target of international sanctions, she argued?

Fair enough, you might think, especially when Mugabe is putting so much effort in creating a friendly business environment to reassure investors and entice them to put their money in Zimbabwe:

A bill forcing all foreign-owned mining companies operating in Zimbabwe to cede 30% of their shares to indigenous business people is ready to be tabled in parliament.

A slate of amendments that critics warn will seriously reduce constitutional protections and freedoms in Zimbabwe cleared a first vote in Parliament.

Zimbabwean officials want custom duties to be paid for about 6 000 blankets given by South Africans to victims of the government's recent mass demolitions campaign.

Zimbabwe, which is battling a host of economic challenges, will become a prosperous country through "God's grace and intervention", said vice-president Joyce Mujuru.

A PROTRACTED price war between bakers and the government, resistant to free-market principles, has had a devastating impact on the baking industry.

The annual inflation rate soared to 254.8% at the end of July, up from 164.3% in June, according to official statistics.

About 5 000 starving families in Zimbabwe could be fed for a month. There's just one snag: red tape [waiting for a clearance certificate from President Robert Mugabe's government] is keeping the trucks carrying the food from reaching their destination.

As the trial of a High Court judge arrested for allegedly obstructing the course of justice gets underway in Zimbabwe, law experts say the proceedings are likely to bring the independence of the judiciary under close scrutiny once more.

Book well in advance!

Zimbabwe, Mugabe