The Zimbabwe we want
IN JANUARY I attended a 2016 economic outlook business symposium organised by The Herald Business and the Confederation of Zimbabwe Industries and emerged from there quite optimistic that the economy would certainly be on a rebound this year, given the positive discussions during the meeting and the presentations by economists, International Monetary Fund representative Jeremy Youmans, Reserve Bank of Zimbabwe Governor Dr John Mangudya and the then President of the Bankers Association of Zimbabwe Mr Sam Malaba, among others.
They spoke quite optimistically about how it was not so difficult for this country to shrug off economic challenges and become a formidable force on the continent.
Of course they all stressed the need to adopt a new way of doing business that would not tolerate corruption, policy inconsistency, discord and other challenges identified at that juncture as constricting economic progress.
Every person in the room agreed that it was not business as usual but that everybody had to provide the bacon as the pig did, and not just the eggs provided by mother hen, an illustration of the sacrifice we all require to make. A pig has to die to provide bacon but mother hen does not need much effort to lay eggs.
It appeared all were in agreement that only through strict discipline and a shift of the mindset would Zimbabwe conquer the raging fires of economic challenges that have threatened to consume the country.
But five months down the line, the fire has become more vociferous. The economic challenges have worsened to a large extent while potential solutions have turned out to be major threats to the economy’s well-being.
The Herald Business The ones that quickly come to mind this issue. are the impending introduction of the The situation prevailing presently, bond notes, that seem to have been whether based on fact or perception, wrongly perceived as a connivance to is far from reflecting the Zimbabwe we worsen people’s plight. want. It is definitely far from expecta
The effects of such a conclusion are tions that came out of the symposium I there for all to see. referred to earlier. Something needs to
Furthermore, the introduction of be done to restore domestic confidence Statutory Instrument 64 of 2016 reguand ensure effort is directed towards lating the importation of most basic and restoring the economy. luxury products seems to have elicited The talk around issues is largely doom negative and even violent reactions by and gloom. Everytime, I meet a number cross border traders and other travelof people asking my opinion on where lers at Beitbridge border post, between the economy is going. Of course the Zimbabwe and South Africa, over the answer is not simple. past few days. The road is quite bumpy but ulti
The suspension of the of its implemately we are headed for better and mentation to allow those that were not brighter days. But the earlier we realin the know time to adjust, while noble, ise that this will not just happen but is also being seen as reflecting inconsistrequires all hands on deck the better ency or rushed implementation without for all of us. Government needs to work due consultation. So either way, there on policy clarity and consistency. People has been very little positive talk around need to be sure that what is put in place today, will still hold tomorrow as they make their plans and goals.
This is not to say that a strategy that does not produce desired results should just be perpetuated, but that tweaking and adjustments and not necessarily an about turn is critical, particularly on those policies and strategies that revitalise the economy.
Corruption, which is so entrenched in this economy, also needs to be dealt with decisively.
“Boldness is required in this country. Ministers (non-performing or corrupt) should be fired. Being a laggard should not be an advantage in this country,” bellowed Dr Godfrey Kanyenzde, executive director of Labour, Economic Development research In statute of Zimbabweat the January symposium.
The private sector also needs to play its part in restoring economic viability. Honesty, trustworthiness, diligence, determination and sacrifice, are some of the operative words that should inform their decisions and actions. Employees in both Government and the private sector need to improve productivity and put in their all, even where there seems to be no incentive to drive them. In this economy, having a job and a salary at the end of the month should be incentive enough given the rate at which people have lost their jobs. Many are surrounded by relatives and friends roaming the streets in search of jobs or other economic engagements hence if one has a job they must consider themselves blessed and be thankful.
Furthermore, local institutions, particularly parastatals have adopted the habit of just budgeting “obese” figures for anticipated projects.
It is easy for people to say we need $5 billion for this project or that one. Do we really appreciate how much $5 bil- lion is? Is it because we have handled trillions (in local currency) to the extent that a billion dollars has become such a small figure that can be thrown around or spoken about just like that.
We need to climb down and be realistic in some of our expenditure projections. Even the national budget is below $5 billion. In an illiquid market as this one, projections have to be connected to the reality on the ground.
But be that as it may, as Zimbabweans we need to find opportunities and positives to amplify in the midst of the challenges that we face today. We need to see the light at the end of the tunnel.
Even if it is a mere flicker of light, let us work on it until it becomes nice and bright.
Too much negative energy in this economy has the potential to cause more damage as people position themselves or seek refuge in malpractices that ensure they have bread on the table.
Let us strive to do all we can to force the giant called Zimbabwe back to its feet.
It is obviously easier to milk the country when on its knees but the supply will soon run dry as opposed to ensuring the country stands again and provides for its citizenry on a sustainable basis. As we approach the half year, things are not looking too good but the situation is redeemable. There is more to Zimbabwe, there is more that can still be corrected, there is much more than can still be done to get the economy working again.
“There is so much opportunity in 2016. Let us not be proud that have potential but let us do something about it,” one delegate at The Herald Business symposium said.
In God I Trust!
Readers are invited to contribute to strategies on how we can positively impact the economy. This will be published in the column next week.
Email: victoria.ruzvidzo@zimpapers.co.zw or victoria.ruzvidzo@ gmail.com Twitter: @VictoriaRuzvid! Whatsapp: 263 772129972