Zimbabwe President Threatens to Shut Down Firms

Zimbabwe President Robert Mugabe, who has threatened to shut down factories ignoring his directive to reduce prices of their products, on Friday accused foreign-owned companies of working with the opposition to topple his regime.

Addressing thousands of Zimbabweans gathered to commemorate the country’s 28th independence anniversary at a Harare stadium, Mugabe threatened tough action against the business sector whom he accused of reneging on pricing agreements.

“I want to warn that anyone who breaks our pricing agreements that we will not hesitate to take over their companies and factories,” Mugabe said.

Zimbabwe is in the middle of an eight-year economic crisis highlighted by runaway prices and shortages of basic commodities.

He accused business of acting as willing partners in the fight by the opposition Movement for Democratic Change to gain power from him.

Source African Press Agency

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