Other Black nations should follow suit …Zimbabwe to Open ‘Blacks Only’ Stock Exchange

Greetings,

The awakening has begun. The anglo world is in more trouble. The rise of the black nation is going on with no more delay. It is happening just as Elijah Muhammad described in chapter 43 of his book, “The Fall of America.”

In that book he writes that…” With the end of the rule of the white race over the Black people of earth in sight — face to face — we have to deal with each other according to the actual facts which exist between the two nations (Black and white).

  With the nature and desire of the white race to continue their rule and subjection of the darker people even though the white man recognizes these facts, he will continue to try holding onto his rule; his subjection; his thinking of what he has acquired under such rule — that which is his and he cannot give    up the prey — his concession — the merchandise which he has exploited out from under the noses and eyes of the real owners (Black man).

  He is willing to shed the blood of his own people and that of others to hold onto that which he calls his legal possessions the spirit aroused in the Black man says, “NO” — that the continent and what is on and under its surface belongs to him and his people (Black nation). This spirit and knowledge is now not only confined to Africa and Asia, the Black, brown, and yellow people, but it actually is now arising in the American so-called Negro, the true lost and found brother of the Black man throughout the earth — whether it be Africa or Asia, he is the brother of them all.

  It is the desire of the white race to continue to hold power and authority over Black Africa, whether it is in Rhodesia or elsewhere. They will just have to give it up. England, Germany, Italy and France —    especially England, France and skeleton Germany — seem to be the die-hards.

  The white men in Rhodesia would be acting wisely if they would realize that one day, sooner or later, they must pack up and leave. Wherefore I quote the Bible prophecy concerning the separation of nations, again today, as it was before: “Every man must go to his own.” This is the clearest and most direct justice that God and man could agree upon.

  The white man cannot live in luxury unless he has the Black man and his place of possession in subjection of his will. But, as I repeatedly say in this paper and in all of my writings, “You cannot make God and His prophets liars,” nor can we reverse the time of their prediction in which these things would take place. So the time has come.”–pgs.184 & 185(tfoa)

   Zimbabwe to Open ‘Blacks Only’ Stock Exchange

Zimbabwe Blacks Only Stock Exchange photo

Zimbabwe’s Indigenisation Minister Saviour Kasukuwere

AFRICANGLOBE –  As Zimbabwe’s liquidity declines and its stock market slumps, President Robert Mugabe’s Zanu-PF party says it will soon launch a racially exclusive stock exchange in which only black people will be able to trade shares in foreign-owned companies it plans to seize.

The plan to indigenise mining companies – of which the major ones are White South African-owned – without compensation follows President Mugabe’s landslide victory in elections last week which the opposition Movement for Democratic Change party is crying foul.

Saviour Kasukuwere, Zanu-PF’s Indigenisation Minister in the former government, announced the party’s plan on Tuesday. He said the incoming Zanu-PF government or Black Zimbabweans would seize a majority stake in all major foreign-owned companies, estimated to be worth a total of about R100 billion, without compensation.

Zanu-PF especially wants to indegenise mining companies and in particular Zimplats (Pvt) Ltd, a major platinum producer largely owned by South Africa’s Impala Platinum Holdings Ltd. Other firms operating in the country include Anglo American Platinum (Amplats) and banks include Standard Chartered and Barclays.

On Tuesday on the JSE, Implats fell 2.65% and Amplats lost 1.1 %. Barclays Bank of Zimbabwe lost 20% on the Zimbabwe Stock Exchange, whose industrial index dipped 2.2% after plunging 11% on Monday.

Kasukuwere said mining companies that did not “cede” 51% shares to Zimbabweans or the government would lose their operating licences. He said the natural resources or underground metals were sufficient to pay for majority shareholdings in mining companies.

“When it comes to natural resources, Zimbabwe will not pay for her resources,” Kasukuwere said in an interview with Bloomberg.

Zanu-PF spokesman, Psychology Maziwisa, confirmed that Kasukuwere’s remarks about reclaiming mining companies and creating a Blacks-only Harare Stock Exchange before year end were Zanu-PF policy.

“All of this is correct. It’s what we told voters we will do,” he said.

The legislation allowing indigenisation of all companies valued at more than R5 million says shares should be sold, not ceded, but President Mugabe mocked this regularly in the last few years. Zimplats does not have a refinery and it sends its ore to South Africa for refining and export.

It would take a few years and about R1bn to build a refinery in Zimbabwe. Zimplats imports its electricity directly from Mozambique because it cannot rely on Zimbabwe’s faltering power output. Economist John Robertson said there was no logic to Zanu-PF’s plan.

“He (Kasukuwere) is in danger of introducing economic apartheid, which is absurd. The assets he says he wants do not add up to cash and the value of those assets will obviously decline. Metals and minerals, including platinum and gold, accounted for 71%, or US$791 million of Zimbabwe’s exports last year.

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