It has been a year since President Robert Mugabe swore in his former political rival, Morgan Tsvangirai, as Prime Minister and the two agreed to a series of conditions enshrined in the Global Political Agreement and to work on a new constitution which would pave the way to free and fair elections. So what has been achieved? "The inclusive government has bought peace and there is food in the shops," Julius, a 35-year-old teacher said. "Anytime you get a dollar, you can rest assured that you will find something to buy." The problem is getting a dollar. Teachers like Julius will mark the anniversary by going on strike this week. He said he welcomes the fact that the coalition government has restored peace to the country, but complained that he still cannot feed his family. Julius takes homes $150 (£96) a month. Over $100 goes on renting two rooms in a house, which leaves him with a little more than a dollar a day to spend on food.

Zimbabwe Prime Minister Morgan Tsvangirai on Wednesday dismissed proposed regulations forcing foreign companies to sell the majority of their shares to locals. "They were published without due process as detailed in the Global Political Agreement (GPA) and the constitution, and they are therefore null and void," Tsvangirai said in a statement. According to a report by the state media, the Indigenisation and Economic Empowerment Act was to become law in March, aimed at giving locals 51 percent shareholding in foreign companies. According to Tsvangirai, the regulations were not reviewed by cabinet before they were gazetted. It was targeted at companies valued at 500,000 dollars (364,000 euros) or above, according to a document released last year. Zimbabwe is recovering from a decade of economic collapse and the new unity government formed early last year is trying to woo investors into the country. "New investors will also be given five years from the date of commencement of business to comply with the regulations," the paper said.

 

A bilateral investment treaty signed recently between South Africa and Zimbabwe will protect future investors where expropriation and compensation are involved, a law firm said on Wednesday. "The treaty offers South Africans with investments in Zimbabwe the best protection yet," Werksmans Attorneys director Roger Wakefield said in a statement. "There is no doubt that this provision gives South African investors much more clout to protect their assets in Zimbabwe." The treaty protected investors affected by expropriation after November 27, 2009, the date on which the agreement was signed. "Although it does not assist South Africans who have already lost investments in Zimbabwe, the Bilateral Investment Promotion and Protection Agreement does at least provide protection [in future]."