HARARE - Zimbabwe’s business sector will remember former leader, Robert Mugabe – who has died at the age of 95 – as a strongman and populist leader who also tried to economically empower Zimbabweans to be active in the economy despite the controversies that dogged such policies.
His successor, Emerson Mnangagwa, is now trying to reverse some of the disastrous polies under Mugabe but this has only worsened the economy. Mugabe’s populist policies include the empowerment legislation which sought to place the control of all foreign owned companies into the hands of black Zimbabweans. Mnangagwa is now reversing this through abolishing the Economic Empowerment Act.
As with the indegenisation law, Mnangagwa has charged current Finance Minister to sort out compensation to the displaced white farmers and has been at pains to stop further farm invasions.
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