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New Zimbabwe law: white-owned businesses to turn over control to blacks

ZWNEWS.com "Harare - President Robert Mugabe has signed a new law requiring foreign-and white-owned businesses in Zimbabwe to hand over 51 per cent control of their operations to blacks. The new law is part of Mugabe's election campaign strategy of what he calls 'economic empowerment.' The strategy also includes plans to distribute tractors, generators, gasoline and cattle to black farmers who have resettled on white-owned land seized by the government since 2000. The moves comes three weeks before Zimbabweans vote in crucial presidential, parliamentary and local council elections. Mugabe, 84, is running against former finance minister and ruling party loyalist Simba Makoni, 57, and opposition leader Morgan Tsvangirai, 55. The March 29 vote takes place amid an economic meltdown - including a shrinking economy, rocketing inflation, shortages of most basic goods and collapsing public services - in a country once known as Africa's breadbasket."

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