Monday, May 21, 2012
The N.Y. Times documents Mugabe's attempt to put more of Zimbabwe's mineral wealth in the hands of the indigenous black population. Fascinating stuff:
According to Zimbabwe’s indigenization law, black Zimbabweans must own 51 percent of shares of foreign companies operating here. About 20 percent of the shares are supposed to go to community trust funds, which in theory will pay for local development projects, and company employees. The rest must go to black Zimbabweans.
But exactly how these aims are to be achieved is unclear. Many of these companies are publicly held, and their shares are not the companies’ to give or sell. On top of that, few black Zimbabweans have the means to buy large numbers of shares at market value.