WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2006-01-17 Time: 00:00:00 Posted By: Jan
[More of the same from that bastard. It will only make things worse. At the best of times, Mugabe’s lot can’t run a piss-up in a brewery. Furthermore, they will probably only give/sell fertiliser to all their buddies. Regardless of Mugabe’s supposed reasons for doing this – you can rest assured it will only make things worse. Good. Jan]
THE Zimbabwean government is taking over three private fertiliser companies, a move many observers say is tantamount to nationalisation.
The move — an attempt by the government to gain control of the industry amid acute shortages of the commodity and other essential agricultural inputs — will scare badly needed investors.
The country is struggling to take advantage of the good rains this season because of the shortage of inputs.
The government blames fertiliser producers and seed companies for the shortage.
After nationalising all grabbed land, the nationalisation of the fertiliser companies is likely to worsen the negative publicity besetting the controversial land reform programme.
The land grabs have left Zimbabwe facing critical food shortages. A recent report compiled by government and donor agencies says at least 3-million Zimbabweans would need food aid starting this month.
Industry and Trade Permanent Secretary Col Christian Katsande said yesterday that the government had set aside Z$1,5-trillion for a leveraged buyout of the main shareholders in Zimbabwe Fertiliser Company, Sable Chemicals and Windmill.
It is not clear whether the shareholders had any say in the offer price, but analysts say that the price could be much lower than the value of the assets.
“Funds for this purpose have been made available by the government,” Katsande said.
The three companies would be merged to form the National Fertiliser Company.
A senior official in the ministry, Florence Makombe, said the deal, which is being handled by Chemplex Corporation, a subsidiary of the quasi-state-owned Industrial Development Corporation, should be finalised by Friday as the central bank had released the money.
“Since the consolidation of the fertiliser industry is of high priority to the government of Zimbabwe, you (TA Holdings and Yara) are expected to finalise the sale not later than 20 January 2006,” Makombe said in a letter to the shareholders.
TA Holdings is the main shareholder in Sable Chemicals, while Yara, a Norwegian firm, is the majority shareholder in Windmill and also has a large stake in Zimbabwe Fertiliser Company.
Agriculture is the mainstay of Zimbabwe’s economy and its destruction has left the economy reeling from shortages of foreign currency, fuel, power, food, basic commodities and even water. Zimbabwe is in its fifth year of economic recession.
Source: Independent Online (IOL)
URL: http://allafrica.com/stories/200601170297.htm…/p>