* Tsvangirai says Minister has no powers to nationalise
* Finmin, CBank warn of instability over seizures
* Not clear where hammer will fall
By Nelson Banya
HARARE, April 5 (Reuters) – Zimbabwe’s bid to win majority
control of foreign-owned mines was locked in confusion on
Thursday, as the prime minister contradicted a fellow minister’s
declaration that the state owned 51 percent of firms that had
not complied with local ownership laws.
“All mining companies that have not complied … should note
that 51 percent of their shareholding is now deemed to be owned
by the state,” empowerment minister Saviour Kasukuwere said in a
statement.
Kasukuwere’s declaration drew a sharp rebuke from Prime
Minister Morgan Tsvangirai, who is sharing power with President
Robert Mugabe in a fragile coalition formed three years ago.
He said Kasukuwere had no power to do this and it was not
government policy, adding to the confusion over a drive that has
often been carried out in an ad-hoc manner.
It was not immediately clear which firms were being
targeted, or whether Mugabe’s cash-strapped government planned
to pay for the shares. Kasukuwere, a key Mugabe ally, did not
respond to requests for clarification.
Continued…
