I received this email this morning and thought it would be of interest here:

Zimbabwe Legislation update - Indigenisation & Economic Empowerment Regulations

On Friday 5th February, the Extraordinary Gazette (dated the 29th January) promulgated the long awaited Indigenisation & Economic Empowerment Regulations before these Regs come into force on the 1st March, in terms of which :-

Every existing business (whether incorporated or not), partnership, association, sole proprietor with an asset value of US$500 000 or more shall submit by the 15th April, 2010 to the Minister of Youth, Indigenisation & Empowerment a 6 page Form (annexing full details on separate sheets) disclosing its workings and Plan for ensuring that within 5 years it will be owned or controlled by Indigenous persons to the extent of at least 51%;


Failure to do so, after a further 30 days of reminder, will render the owner of the business/every Director guilty of an offence and liable to a fine +/or imprisonment for up to 5 years;


Merged or restructured/unbundled businesses shall submit a different Form within 30 days;


Foreign/domestic Investors shall submit the same Form as 1 above;


Goods + Services procured under the Procurement Act to be contracted with Indigenous Zimbabweans under the same penalty as 2 above;


The Minister may appoint his own Valuator if suspecting figures below US$500 000;


Persons guilty of acting as Fronts will suffer the same penalty as in 2 above.
An electronic copy of the 43 page SI 21 of 2010 will be furnished to Optima Subscribers, upon request .

Source: Optima Services

http://forums.accuratereloadin...3811043/m/8891054621

David,

Here is the previous thread on the subject from a few days ago. The thread was transferred to the political forum.

Thanks Kathi. I didn't see the previous thread.

Doesn't surprise me at all.

It is interesting that "asset value" is still calculated in US dollars. It would be at least "nice" if I could hear some growls out of our esteemed US "State Department" about this latest move.

The Zim economy is US dollar based now.

And just think, in America we had a Revolution over a little tax on tea...

quote:

Originally posted by N E 450 No2:
And just think, in America we had a Revolution over a little tax on tea...

And you were quite wrong to do so!

Why are these being moved to the political forum?This sounds like something very relevant to hunting in Zimbabwe and the companies we hunt with. I'm concerned that if we become the "does this belong" police we could remove alot ofbtopics that alot of us learned from or enjoyed reading.

I've got a prediction to make. Very shortly someone is going to show up and demand (not request) that the moderators immediately banish this to the political forum. Let's see if I'm right.

Before it occurs, I want to get this request in first, which is, that we refuse to roll over for it this time. Being easily intimidated is largely to blame for tyranny in the first place.

While waiting for that to happen, just this...the current U.S. administration will not only do nothing to help those being victimized by what is happening there, but in fact, no doubt favors such policies and would try it in the U.S. if it could.

"Indigenous" means black people (or coloured as nowadays people say allthougth all of us have colou. Or it referes to people that can demonstrate they have been living there for the last hundred years or what the fuck is this bullshit. I love Zimbabwe and its people and don´t understand why the keep up screwing up things for them. they deserve somo calm and a speedy recovery. Kulungele

Shakari;

Oh, I don't know about that. I think we Americans and the cursed English (I'm Irish( made a pretty good combination one time a few times around in a couple of fights. (Yes, I do acknowledge that the Boers are pretty good too)

Gerry,

You're right, we do make a good team...... but we'll never forgive you for wasting all that TEA!

To say nothing of that travesty of good whisky you lot call bourbon!

quote:

While waiting for that to happen, just this...the current U.S. administration will not only do nothing to help those being victimized by what is happening there, but in fact, no doubt favors such policies and would try it in the U.S. if it could.

yep

[QUOTE]Originally posted by shakari:

To say nothing of that travesty of good whisky you lot call bourbon!


Pole, pole Bwana- the tea was one thing, but when you insult something as wonderful as Bourbon, well, I cant have that. We didnt try and replace whisky, it was just improved.

quote:

Originally posted by shakari:

quote:

Originally posted by N E 450 No2:
And just think, in America we had a Revolution over a little tax on tea...

And you were quite wrong to do so!

best and smartest f--king move we ever made.

shakare

Looking at our gun laws and your gunlaws, and everyelse in the World, I think we "did good".

I thought They couldn't fuck things up much worse than they already had. Then this, Mugage and his Zanu pf types are indeed always proving that a lower level of all that can be bad and evil in human nature is easy for them. The last step is fast approaching where the only ones left to feed on will be themselves.

450,

Seeing that you started a quarrel over a tax, an looking at the IRS now, I'm not so sure that you "did good"...

quote:

Originally posted by Sevenxbjt:
Why are these being moved to the political forum?This sounds like something very relevant to hunting in Zimbabwe and the companies we hunt with. I'm concerned that if we become the "does this belong" police we could remove alot ofbtopics that alot of us learned from or enjoyed reading.

This subject is relevant to hunting , that is why I have left it here.

Others, however, have absolutely nothing to do with hunting, and I move those to the relevant forums.

quote:

Originally posted by Philip A.:
450,

Seeing that you started a quarrel over a tax, an looking at the IRS now, I'm not so sure that you "did good"...

While I am not an expert on othercountries taxes, if you look at England and most of Europe you might be surpised...

And now in Zimbabwe it is 51% of EVERYTHING you or your family has built up....

quote:

Originally posted by Saeed:

quote:

Originally posted by Sevenxbjt:
Why are these being moved to the political forum?This sounds like something very relevant to hunting in Zimbabwe and the companies we hunt with. I'm concerned that if we become the "does this belong" police we could remove alot ofbtopics that alot of us learned from or enjoyed reading.

This subject is relevant to hunting , that is why I have left it here.

Others, however, have absolutely nothing to do with hunting, and I move those to the relevant forums.

Fair enough.
I was concerned that topics were getting "relocated" just because someone may object to the post.
Good to hear that is not the case.

jdollar & 450,

My comment was tongue in cheek, hence the little chap rolling on the floor laughing.

Bwana Nderobo,

I guess some of the better ones are good. I seem to remember one very good one called 'Makers Mark' or something similar?

I just couldn't resist that dig either!

where are the aircraft carriers?????

It's the same as the obama plan, only for imported, non-indigenous folks.

bring on the moonshine. That cures the booze problem it burns out your taste budds so it don't matter what it tastes like

Regarding Zim and big game hunting...I sincerely hope this is not too political, but I've really been wanting to ask it a long, long time here -

Is there going to come a time when out of principle those of us who hunt in Africa are going to draw the line with Zim??

For instance, how exactly is what's happening in Zim today any different from that which went on in Germany in the mid 1930s? I don't know that it's much different. It's not extermination camps of course, but the preliminary steps did come first. And it sets the tone for attitudes of other governments around the world.

We do have a problem here that transcends elephant and cape buffalo.

Is it that the hunting is so good that everyone is willing to look the other way? What's it going to take?

Yep, THAT'S too political!

Les

Saturday 13 February, 2010

First Mugabe took the farms now it is white-owned firms


author/source:Scotsman (UK)
published:Sat 13-Feb-2010
posted on this site:Sat 13-Feb-2010

Article Type : News

Another slap in the face from his rival, who has been bolstered by Zuma's recent taking of sides

By Jane Fields in Harare

White people will no longer be able to open hairdressers, advertising agencies or bakeries in Zimbabwe under black empowerment regulations hastily signed into law by president Robert Mugabe's side of the government. Morgan Tsvangirai, Mr Mugabe's estranged prime minister, described the new law as "null and void" because he had not been consulted. But analysts say he will likely be unable to reverse it. The Indigenisation and Economic Empowerment Regulations force executives of white-owned companies with assets of more than £320,000 to commit to hand over 51 per cent of their shares to black Zimbabweans within 75 days of 1 March – or face five years in jail. The executives cannot choose their new shareholders: they must pick from a database set up by the empowerment ministry, headed by former secret service operative Saviour Kasukuwere, who has vast business interests of his own. "This says to investors: Don't you dare come here," said political analyst John Makumbe, of the University of Zimbabwe.

The new regulations will affect several London-listed banks and mines: Barclays Bank and Old Mutual have a significant presence in Zimbabwe. The law also sets out an impressive list of traditionally lucrative smaller sectors now reserved for black Zimbabweans. Among the "sectors reserved against foreign investment" are hairdressers, beauty salons, employment and advertising agencies and bakeries. Whites and foreigners will no longer be allowed to open estate agencies or valet services, nor will they be allowed to engage in the retail trade or grow cash crops. "This comes down to loot and pillage," a Tsvangirai aide said. "It disqualifies a lot of black-owned foreign companies, including ones from South Africa, which shows it has nothing to do with black empowerment. They (Mr Mugabe's Zanu PF party] just want things for free like the farms."

Mr Tsvangirai, the head of the former opposition Movement for Democratic Change (MDC) party, met Mr Mugabe to register his disapproval of the new law. The 84-year-old president made the astonishing claim that he "knew nothing about it". The regulations were passed by the Zanu PF-dominated parliament in 2007 but put on ice, leading many to believe they'd been permanently shelved. They were quietly published last Friday, exactly a decade since Mr Mugabe launched a violence-riddled land reform programme that has turfed about 4,000 white farmers off their land and seen Zimbabwe's agricultural production plummet. The first white farm invasions were in February 2000. South African lawyer Willie Spies, who has fought to protect white farmers from Mr Mugabe's land grab said: "The new development calls for more drastic measures by the South African government to assist its citizens affected by Mugabe's controversial policies."

Mr Tsvangirai said: "The regulations would have scared off foreign investors, already jittery about Zimbabwe, as well as disenfranchising citizens." Only this month the former opposition leader assured the World Economic Forum in Davos that "confidence has returned" to Zimbabwe's battered economy. Analysts said the regulations represented another slap in the face for the premier from his rival, who has been bolstered by South African president Jacob Zuma's recent taking of sides during negotiations to revive a stalled unity deal signed in September 2008. Mr Zuma told Mr Tsvangirai he should be "more flexible" in what looked like a plea for the MDC leader to drop his demand that Mr Mugabe's central bank governor and attorney general be replaced. Mr Mugabe insists he will make no concessions until western sanctions on him and 200 close associates are removed.

We’re taking white-owned companies!

http://blogs.aljazeera.net

By Haru Mutasa in Africa
on February 28th, 2010


What are the pros and cons of transferring majority share ownership into the hands of black Zimbabweans?

I attended President Robert Mugabe’s birthday celebrations over the weekend – and heard him speak passionately about transferring majority share ownership into the hands of black Zimbabweans, part of the indigenisation law which takes effect on Monday 1 March.

Companies will be legally obliged to transfer a majority of their shares into the hands of black Zimbabweans. Companies worth more than half a million US dollars have until mid-April to show how they are going to comply with the share-transfer scheme.

Those who don't comply could face up to five years in jail.

He got a raucous applause from those who support his idea – and Monday 1 March is the day companies have to show how they plan to achieve this. By mid April they must have outlined the roadmap to empowerment in their respective companies.

Any reports of this law being squashed are clearly wrong. From what I saw the plan to takeover white-owned companies is in motion.

I already knew what Prime Minister Tsvangirai’s party, the Movement for Democratic Change, thought;

http://www.newzimbabwe.com/new...+quota+law/news.aspx

I was more interested in hearing the opinions of Mugabe’s party, ZANU PF.

Political analysts and independent economists seem mainly cautious about this Indigenisation law. Some say economically the timing isn’t right. Zimbabwe is trying to recover from a decade of economic decline, scaring away investors who could help resuscitate this country’s ailing economy may not be a wise move.

Some fear a repeat of the farm invasions saga – when mainly white commercial farms were seized by supporters aligned to Mugabe – war veterans and war collaborators and they are popularly known here.

Ten years since the invasions started some new black owners have tried to make a success of their new possessions – but many farms are either lying idle or operating at a bare minimum.

http://allafrica.com/stories/201001060360.html

So here I was mingling with the most senior ZANU PF officials and I put these concerns to them. There is a perception in Zimbabwe that most of these companies will be given to army generals, ZANU PF loyalists and anyone who President Mugabe needs to help him stay firmly in power.

The responses I got were predictable. Some laughed at me, others dismissed me and some accused me of being anti-nationalistic. I was given a history lesson of how many black people died for Zimbabwean and it’s about time the majority started reaping the benefits of the country’s abundant natural and very lucrative resources.

But some had very convincing arguments.

1) Shares have to be bought by prospective black business people i.e. anyone who wants shares in white owned establishments have to buy them at the market price. “There will be no grabbing,” said the indigenisation minister.

2) Government is willing to look at special cases and give them more time to comply i.e. if a white owned business feels transferring ownership to blacks is too soon and will jepordise profits of the company and the country as a whole, they have to outline how they plan to equip black Zimbabweans with necessary skills needed to one day take over.

3) It’s not just the elites who will benefit – it’s a programme for the workers i.e. some companies implement schemes where the workers end up owning shares within the organisation. That way even the lowest paid factory worker will have shares he can invest in and benefit from them.

It all sounded good on paper – and as a black African myself empowering the black majority, who are often the poorest, needs to be addressed.

But I had concerns;

1) The law appears racist i.e. the term indigenous applies to people who were previously disadvantaged during colonial rule. Non-whites were subjected to racist and often oppressive laws where they weren’t allowed to participate actively in the country’s economy. So technically this law implies if one is white, one is not indigenous and white Zimbabweans have to give over 51 percent of their shares to black Zimbabweans. Is this fair?

2) Only the elite will benefit – South Africa’s Black Economic Empowerment programme saw the rise and rise of the black diamonds i.e. the super wealthy black upper class mainly aligned to the ruling party the African National Congress. The poor haven’t seen the rewards of empowerment yet. It could happen in Zimbabwe. It did with the farms – why would this latest move be different? There are reports of senior ZANU PF officials fighting for diamond mines, farms and other assets – resources many it seems expect to be given rather than pay for.

http://newzimsituation.com/301...ritish_diamond_c.htm


3) Is President Mugabe trying to keep those around him happy, so he stays in power – reward the army generals and influential players within the party – some of whom wouldn’t mind taking over from Mugabe one day? They flatly denied this theory understandably – and I was advised not to pursue such a line of thought so “I lived to see the fruits of the country’s empowerment process.” They may have been dismissed but it is a theory some analysts are peddling around.

The reality is indigenisation is going to happen – the wheels are in motion. Those trying to stop, stall or disrupt the process are wasting their time in my opinion.

I've met both black and white Zimbabweans who agree the process needs and should happen - it just shouldn't be haphazard like the farm invasions were.

What people should be asking perhaps is how to ensure the process is not abused by a few individuals?

The next few months in Zimbabwe are going to be interesting. ZANU PF is in a weakened position as the MDC seemingly gains ground with the masses largely because of the slight positive turnaround in the economy.

If free and fair elections were held tomorrow some analysts say the MDC would win hands down. Those who follow the Zimbabwe story know President Mugabe and his party officials ZANU PF won’t go down without a fight – is taking over ownership of companies perhaps the latest phase of the battle for control of Zimbabwe?

About the only thing keeping communism from taking over in Zim is the fact that blacks seem to be ill-equipped to run certain industries. Lack of training, whatever. The good thing is that Safari Companies have no hard assets that can be seized. There are also too many other countries in Africa where the various PH's in Zim can relocate to and ply their trade. This deal is scheduled to come off in five years. Two years later, there won't be any hunting in Zim, and two years after that the army and poachers will have decimated the game herds. Someone will kill Mugabe or he will die of old age. They'll bemoan the lack of American and European hunters bringing those lovely Yankee Dollars in with them, and somebody with some vision will clean house and try to rebuild the country. Fail, and the rest of the continent will remember there are a few areas where you ignore the color of the businessman's skin and just let him make money so you can tax the Hell out of him. Has anybody noticed that Ivan Carter has a nice home in Michigan (IIRC) and spends considerable time there? I would suggest that that is becoming commonplace with smart PHs all across the country.

Rich
you can't cure stupid.

Rich,

Where do you find that 5 year figure?

I thought I read it must be done within 75 days! [mid May?]

Les

But of course...they cannot even get the basics right...Indigenous is defined by (the new law) as anyone who was disadvantaged or predudiced against Prior to 1980 - Which is ...nill. All forms of segregation and racial discrimination came to an end in 1978.

And of course Prior to that the Indian community were as discriminated against as the Blacks...and it is the Asian owned Buisnesses that are some of the main targets...

The truth has nothing whatsoever to do with current activities - they should simply have published the names of the companies they intend to loot, legalities be dammed.

I wonder if it will pertain to the chinese.
Aren't you even more glad that we have a constitution?
465H&H

they'll muck it all up, and then ask the US for a hundred billion in foreign aid to fix it. The good news, I think, is that we haven't any spare $$$ laying around to send, and won't have for a generation or more.

Rich

Mugabe forces handover of white-owned companies to black Zimbabweans print friendly version



author/source:Times (UK)
published:Mon 1-Mar-2010
posted on this site:Mon 1-Mar-2010

Article Type : News

“It is the stupidest law ever introduced by this government. There’s a lot of competition for that"

Jan Raath

A law to force white-owned companies to surrender 51 per cent of their shareholdings to black Zimbabweans comes into effect today, amid panic in the country’s business sector and fears of a catastrophic slide back into economic chaos. Six weeks from now all companies with a relatively modest asset value of at least US$500,000 will have to submit official forms detailing the race of each of their shareholders. If whites are in the majority they will have to submit their “indigenisation plans”, which have to be carried out within five years. At his lavish $300,000 celebrations for his 86th birthday in the western city of Bulawayo on Saturday, President Mugabe compared the new law with his “revolutionary land reforms” that set off the seizure of white-owned farms ten years ago. He said that only “indigenous people” could control the country’s resources. “We are saying no, no, no, the land is ours, the gold is ours, the uranium and the forests and the wildlife is ours.” Recently he declared that white Zimbabweans were “not indigenous, even though they were born here. They are the offspring of settlers.”

Western diplomats said that the laws were Mr Mugabe’s last trick to persuade people to vote for him in elections when the current power-sharing government comes to an end in about 2012. Analysts said that the announcement of the laws two weeks ago put an immediate brake on billions of dollars of investment plans, including a $500 million project for the expansion of a platinum mine by the South African-based company Impala Platinum, the world’s second-biggest producer of the metal. “It is the stupidest law ever introduced by this government, and there’s a lot of competition for that,” said the economist John Robertson. “I started from scratch in 2003 after they grabbed my farm,” said an enraged 50-year-old white transport operator. “I’ve set myself up again in business, and now they want to steal it from me again. They have no shame.”

Perhaps an ignorant question - but would most safari companies fall under the $$$ cap?

I would assume so unless the concessions have a high $$$ value that must be included?

They want our handout but they want thr bribes the chinese pay

And of course the military hardware the chinese sell them too

Steve/Shakari,
Please note: Bourbon is made only in Kentucky. What we distill in Tennessee is either pure, fine Tennessee sippin' whiskey or just plain ole backwoods, mountain Moonshine. Take yer pick, but there ain't no Bourbon comin' from Tennessee