Zimbabwe gov'ts plans to target western companies will go ahead: Mugabe

Zimbabwe President Robert Mugabe on Saturday said plans by his government to target companies belonging to European and American countries that are supporting sanctions hurting Zimbabwe would go ahead.

Mugabe said the country will not back down on its plans to also impose embargos on countries that continue to maintain sanctions on Zimbabwe.

Speaking at a celebration to mark his 87th birthday, he said, the sanctions that continue to be on Zimbabwe which Tendai Biti (Finance Minister) has been asking for from the West, America and Europe must now be fought with the same.

The European Union recently extended the sanctions, which include a freeze on financial aid and trade restrictions that have been in existence for more than a decade.

And last year, the ruling Zanu PF at its 11th National People's Conference resolved to nationalize British and other western companies operating in the country if illegal sanctions slapped on Zimbabwe were not lifted.

"Unless you (the West) remove sanctions we will take over 100 percent of your companies. Why should we have 400 British companies operating here? Why should we have organizations supporting America working here without us hitting back?" said Mugabe then.

Europe and America imposed the sanctions after the then Zanu PF led government embarked on a land reform program to address land imbalances created by the colonial system.

Mugabe said Europe had to realize that Zimbabwe was serious in its calls for the removal of the restrictions that continue to hamper recovery of the local economy which spent a decade in contraction.

"We do not talk what we do not do, we always walk our talk," he said at the 21st February Movement Celebrations. "We will do an inventory which must show us which is a Dutch, American or British company."

The President tasked the Youth Development, Indigenization and Empowerment Minister, Savior Kasukuwere to immediately come up with an action plan that would affect the companies.

The minister is responsible for implementing the indigenization and economic empowerment law which stipulates that 51 percent shareholding in any foreign venture should belong to the indigene.