Mutare - President Robert Mugabe told his party conference on Friday that British and US companies in Zimbabwe would be nationalised if sanctions against the country were not dropped.
"Why should we continue to have 400 British companies operating here freely?" Mugabe said to an audience of more than 4 000 Zanu-PF party members in the eastern city of Mutare.
"Why should we continue having companies and organisations that are supported by Britain and America without hitting back? Time has come for us to revenge," he said, referring to laws that allow him to take the companies over.
"We can read the riot act and say this is 51% we are taking and if the sanctions persist we are taking over 100%."