President Robert Mugabe of Zimbabwe continues his disastrous policies of wrecking what was once among the most highly developed economies in Africa. He has announced his government will seize control of foreign mining and business interests by assuming a 51% control of those assets. If foreigners don’t like the arrangement, he told them to “ship out” because he intended to give those assets to the people of Zimbabwe. UN economists estimate the current 25,000% inflation rate in Zimbabwe will reach 100,000% by the end of the year.
Mugabe illustrates what happens when well meaning anti-colonialists get caught up in rhetoric rather than confront economic reality. Mugabe tries to capture the high ground of protecting African rights by ranting and raving against “colonialism,” but most studies indicate after seizing farms or businesses once controlled by people of European background, the assets are turned over to his friends, family, and henchmen. His claims to benefit “the people of Zimbabwe” are merely words designed to cover up his kleptomania which only enriches the favored few around the president. As this thug continues to brutalize his nation, South Africa and other African nations stand idly by fearing to be branded as favoring European interests. In this case, Zimbabwe has all to gain by drawing upon talents of Europeans and all to lose by allowing the African Mugabe crowd to steal from their own people.