Zimbabwe's Ruling Party Plans to Transform Economy by Transferring more Wealth to Citizens

The ruling party in Zimbabwe said it plans to transform the economy by transferring more wealth to its citizens. Mugabe and his Zimbabwe African National Union-Patriotic Front will boost the economy through its policies of indigenization and economic empowerment, ZANU-PF officials revealed.

“Over the next five years, Zimbabwe is going to witness a unique wealth-transfer model that will see ordinary people take charge of their economy,” it said. “The people of Zimbabwe have given President Robert Mugabe and ZANU-PF a clear mandate to transform the economy through indigenization and economic empowerment.”

Robert Mugabe recently won the just concluded election which his rival Morgan Tsvangirai described as a 'huge farce' and 'null and void'. Many wondered how Mugabe could have won again though Western nations and Botswana are in doubt of his victory but his victory is hinged on the fact that he has created a niche for Tsvangirai as a western tool.

Mugabe with his appellation of Tsvangirai will always defeat him because Zimbabweans are scared of losing their lands again not when they can remember the notorious Ian Smith Rhodesia regime and the White supremacists. Mugabe received the applause of meaningful African leaders from Nigeria to South Africa much to the chagrin of his rival Morgan Tsvangirai.

Mugabe, 89, extended his 33-year rule of the Southern African nation with 61 percent of the vote in the July 31 election and his party secured a two-thirds majority in parliament. Prime Minister Morgan Tsvangirai, who won 34 percent, called on the African Union and the 15-nation Southern African Development Community to back his demand for a rerun.

With its indigenization policy, Mugabe and ZANU-PF have forced mining companies such as Impala Platinum Holdings Ltd. (IMP) and Anglo American Platinum Ltd. (AMS) to cede majority stakes in their local assets to black Zimbabweans or the government. The Southern African nation has the world’s second-biggest platinum and chrome reserves, as well as diamond, gold and coal deposits.

Tsvangirai had promised to repeal the indigenization measure. Mugabe has also redistributed majority of the lands which were held by the minutest white population. This was the beginning of his fisticuffs with the West who wanted the status quo just as it is in Namibia where the Black population has no say on the economy as well as in South Africa where almost the entire wealth is concentrated in the hands of the whites.