The Insider

ZANU-PF blacklist- The Zimbabwe African National Union-Patriotic Front was today reported to have blacklisted 19 foreign-owned companies for defying Zimbabwe’s indigenisation laws. Under the law, companies should be 51 percent-owned by indigenous Zimbabweans by 1 January 2014. The blacklisted companies allegedly include Standard Chartered Bank, Metallon Gold Zimbabwe, Murowa Diamonds, Zimasco, Tongaat Hulett, Pannar Seed and Pioneer Hybrid Zimbabwe. The indigenisation laws were passed five years ago but foreign-owners believed that they would be amended if there was a change of government. Their hopes for a softening up were also raised when President Robert Mugabe moved the portfolio from the militant Saviour Kasukuwere to the soft spoken Francis Nhema. Even new Mines Minister Walter Chidakwa gave mining companies a glimmer of hope when he said he might give some concessions to mining companies if they refined minerals like platinum in the country. But all these hopes were dashed by Mugabe when he said there would be no exception to indigenisation. The case was sealed by Finance Minister Patrick Chinamasa when he confirmed there was no going back on indigenisation.

(41 VIEWS)

President Robert Mugabe may be hoping around, looking healthy, assured of a new five-year-term at the helm of the country but the Voice of America already has his obituary.

(44 VIEWS)

Inflation for November down- Zimbabwe’s year-on-year inflation declined once again this time by 0.05 percentage points from 0.59 percent in October to 0.54 percent last month, according to figures released by the Zimbabwe National Statistics Office. Inflation has been on the decline this year from March when it peaked at 2.98 percent. It averaged 5.1 percent last year and but is likely to be well below the 5.7 percent forecast for this year.

(52 VIEWS)