The fruitcake dictator of Zimbabwe, Robert Mugabe, has apparently run out of white-owned farms to give to his cronies and has turned his attention to foreign-owned businesses.

In a bill which he will be putting before the Zimbabwean Parliament next month, all foreign-owned businesses must be majority owned by an indigenous (ie. black) Zimbabweans.  If 51% or more of the company isn’t owned by a black Zimbabwean, the state will be able to steal … sorry, seize 51% of the company.

Major foreign-owned companies operating in Zimbabwe include the mining firm Rio Tinto and Barclays Bank.  Most western companies pulled out of Zimbabwe when Mugabe went loopy.  Chinese firms have recently stepped into the breach and set up shop in Zimbabwe with the help of the Chinese government.  It’ll be interesting to see if Mugabe dares to get into a pissing contest with the Chinese over this new law.