Mugabe Wastes No Time Stealing...Again.

At nearly 90 years old, Robert Mugabe has not lost his appetite for officially-sanctioned thievery, thus driving the Zimbabwean people further into an economic abyss.  He's already destroyed what was once the breadbasket of Africa, driven an industry that was the pride of Zimbabwe across the border, and wrecked the national currency; but, after pocketing another stolen election, he's back at it.

President Robert Mugabe’s government plans to seize control of foreign-owned mines without paying for them as part of a program to accumulate $7 billion of assets following his July 31 election victory, a minister said.

The government will compensate bank owners as it takes control of their companies, Saviour Kasukuwere, the minister in charge of the program to compel foreign companies to cede 51 percent of their assets to black investors or the government, said in an interview in Harare, the capital, today. His comments echo a suggestion made by Mugabe earlier this year.

“When it comes to natural resources, Zimbabwe will not pay for her resources,” Kasukuwere said. “If they don’t want to follow the law that’s their problem.” Non-compliant mine owners risk losing their licenses, he said.

As night follows day, investment will shrivel, government interests will intrude, employment will decrease and people will be poorer.  This is as predictable as it gets.