Great hope for Zim economy
HARARE– President Emmerson Mnangagwa’s inauguration speech has struck the right chords in business corridors and optimism is abound the head of Government represents a fresh breath of air that has potential to ignite economic growth, but business was quick to compile a “to do” list that could define his reign.
Zimbabwe’s economy has been plagued by a myriad of challenges that have had a negative bearing on the socioeconomic well-being of the country’s citizens.
Trade deficits, unemployment, liquidity challenges, industrial inefficiencies and inflation among other economic challenges have become synonymous with the local economy.
But the ascendancy of President Mnangagwa has brought with it optimism in the business sector who view the former Vice President as pro-business.
Days after his nomination by the ruling ZANU-PF party to take over from President Mugabe, the parallel market was first to signal the good times are on the horizon with the bond note and plastic money firming against the green back.
His inaugural speech, last Friday, was also punctuated by overtures to investors who got away with assurances from the highest office in the land that Zimbabwe is open to both domestic and foreign investment.
In separate interviews, economists and business lobby groups concurred that Zimbabwe has been presented with a fresh start to economic prosperity with the ascendancy of President Mnangagwa but warned he will need to adopt firm economic fundamentals to achieve the needed success.
Confederation of Zimbabwe Industries (CZI) president Sifelani Jabangwe said business has confidence in the new President.
“We have so much confidence in the incoming President and that he has what it takes to create a conducive environment for business to thrive,” said Mr Jabangwe.
Zimbabwe National Chamber of Commerce CEO, Mr Christopher Mugaga was impressed by the President’s call to return Zimbabwe to the international community and as well as promoting re-engagement initiatives which had been started by former Finance Minister Patrick Chinamasa.