The President of Zimbabwe Robert Mugabe, has stated that his country would not accept any investment from China its major ally or any other foreign country without pre-conditions.

Gweru / NationalTurk – This latest pronouncement from the Zimbabwean leader somehow seems to be contradictory to his earlier stance of saying that the indigenization policy of the country will not affect Chinese firm.

Indigenization policy is a rules set out by President Mugabe to allow the local people to have greater control of the economy but Chinese investors in Zimbabwe have relatively wider parameters to operate than any foreign investors.

President Mugabe made is position known at the Zanu PF 13th Annual National People’s Conference in the city of Gweru.

He warned Chinese investors that they would no longer be protected from the controversial indigenization laws, which compel foreign-owned companies to cede 51% shareholding to locals.

“Even our Chinese friends, you have to accept our rules here if you want to work with us, we have to work on a reciprocal basis,” President Mugabe said.

President Mugabe also said foreign investors were free to bring in their capital and technology, but should never dream of owning land and majority shareholding in local companies.

“This will be robbery, theft, If you are a leader and agree to this robbery, then you are not a good custodian of your people’s resources”, he concluded.

He added that it was time 100% indigenization is introduced, claiming the country had now done enough to acquire 51% shareholding in foreign-owned companies.

President Mugabe is regarded as a leader who wants majority of locals in investing in the economy but his critics say he is not doing enough to help them.

Issaka Adams/NationalTurk Africa News

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