Mugabe to seize some foreign firms
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Zimbabwe will transfer ownership of all foreign-owned firms that support Western sanctions against President Robert Mugabe’s government to citizens and investors from “friendly” countries, a state newspaper reported.
The southern African state is struggling with an economic crisis many blame on Mugabe’s policies, which has left it with an inflation rate higher than 2 million percent and chronic shortages of food and other basic needs.
The government blames the crisis on sabotage by enemies upset by seizures of white-owned farms for blacks, and has followed up that policy with another controversial law seeking to transfer majority ownership of foreign firms to Zimbabweans.
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