Commercial Farmers' Union of Zimbabwe

Commercial Farmers' Union of Zimbabwe

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Zim foreign companies to be forced to reveal stance on sanctions

Zim Foreign Companies To Be Forced To Reveal Stance On Sanctions

17/01/2011 11:29:00

Gweru, January 17 2011 – Defence Minister Emmerson Mnangagwa has warned
chief executive companies of foreign- owned companies that they will be
forced to reveal their stance on sanctions on Zimbabwe live on radio and
risk losing 90 percent of their shares if they refuse.

The minister said the shares will be sold and used to fight sanctions on
Zimbabwe to go.

Mnangawa who was speaking at a victory celebration for Zanu (PF) Member of
Parliament in Chiwundura, Kizito Chivamba at the weekend, said his party was
investigating foreign owned companies in support of sanctions.

“We are in the process of rounding up CEOs of all foreign companies
operating here and we will ask them if they support sanctions or not,” he
said. “Those who will indicate that they do not support the sanctions will
be asked
to go live on national radio and tell the country and the rest of the world
that their company does not support sanctions. Those who will indicate that
they support sanctions will leave us with no option but to put punitive
measures against them. One of the options available is to take over 90
percent of their shares and use them to generate money that will be used to
finance the fight against sanctions,” said Mnangagwa who is widely known as
crocodile “ngwena” in Zanu (PF) circles.

There are over 500 foreign companies operating in the country. The exercise
has already started in the lowveld and Bulawayo where Zanu (PF) officials
have visited some foreign owed companies.

“Zanu (PF) officials visited my company last week and left a questionnaire
which they said I should fill and submit to the Zanu (PF) provincial
headquarters before the 29th of January 2011,” said a CEO of a Bulawayo
based foreign company who refused to be named for fear of victimisation.

Zanu (PF) has accused Britain, America and their allies of imposing economic
sanctions against Zimbabwe. However the two countries have denied the
charges insisting that only personal restrictions were imposed on
individuals in Zanu (PF) who were responsible for funning and aiding
violence against opposition supporters during the past elections.


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