HARARE , Zimbabwe ( CNN ) -- Zimbabwe President Robert Mugabe swore in his new government Wednesday and confirmed that the new 26-member Cabinet , mainly composed of allies from his previous appointments , will not abandon his controversial policy of seizing the majority stake of foreign-owned firms . The 89-year-old leader told journalists after the Cabinet 's installation that Zimbabwe 's economic recovery will be anchored on mining , manufacturing and agriculture industries . `` We want to see the drive and we want to see indigenization done , '' Mugabe said at State House after he had been asked if a change of personnel in the Indigenization Ministry , which oversees the takeover policy , meant a change of stance . Zimbabwe had had no functioning Cabinet since the July 31 elections when Mugabe was re-elected . Between 2009 and this year , Mugabe 's Zanu PF party and former Prime Minister Morgan Tsvangirai 's MDC party shared power . The new Cabinet retains the Ministry of Indigenization , the policy of seizing the majority stake of foreign owned firms and giving them to black Zimbabweans . Critics of the policy have said it mainly benefits a few elites . On Wednesday , Mugabe said most African countries like Sudan and Gabon are lagging behind as `` whites '' exploit the continent 's resources . `` That is exploitation . That is theft by using crook-ish means to steal the wealth of Africa . Ah . Lets reject that , '' said Africa 's oldest leader , who will finish his new term when he is 94 and will be able to stand for another term . The Cabinet also includes Jonathan Moyo as media , information and broadcasting services minister . He was the one who drafted tough media laws in 2002 that have resulted in the deportation of foreign journalists and the closing of some media organizations . Mugabe tossed him out of Zanu PF after Moyo stood as an independent in the 2008 elections . Former Justice Minister Patrick Chinamasa is now the finance minister , taking over from Tendai Biti , who was from the MDC party under the 2009-2013 coalition government . On Wednesday , the opposition described the Cabinet as `` dead wood . '' Mugabe and Zanu PF got more than a two-thirds majority in parliament in the July 31 elections .
Mugabe confirms continuation of seizing the majority stake of foreign-owned firms . - The government announces a new law to allow foreign investors in Zimbabwe to buy land without paying taxes. The opposition describes the new cabinet as `` dead wood ''