The Herald (Zimbabwe) - - Front Page - Ishe­mu­n­y­oro Ching­were Busi­ness Writer

PRES­I­DENT Mnan­gagwa has called on the busi­ness com­mu­nity to strike a bal­ance be­tween the case for profit and na­tional in­ter­est in light of the price in­creases that have be­sieged the econ­omy.

The Pres­i­dent made the re­marks at the fourth edi­tion of the Zim­babwe Na­tional Cham­ber of Com­merce (ZNCC) an­nual busi­ness re­view con­fer­ence in Harare yes­ter­day which ran un­der the theme: “En­ter­prise De­vel­op­ment, Cor­po­rate En­trepreneur­ship and Sus­tain­able Growth.”

The con­fer­ence comes at a time when Gov­ern­ment is work­ing to re­sus­ci­tate and de­velop the econ­omy to up­per mid­dle in­come earn­ing sta­tus by 2030 through pri­vate sec­tor-led growth.

Gov­ern­ment has been, in the mean­time, craft­ing busi­ness-friendly poli­cies an­chored on the Pres­i­dent’s “Zim­babwe is Open for Busi­ness” call but of late the ef­forts have run into prob­lems af­ter most busi­nesses hiked prices of goods and ser­vices.

“I urge stake­hold­ers to con­tinue the good re­la­tion­ship that has been es­tab­lished,” said the Pres­i­dent while de­liv­er­ing his key-note ad­dress at the con­fer­ence, “I fur­ther call on busi­ness to strike a proper bal­ance be­tween their busi­ness and na­tional in­ter­ests.”

The coun­try’s year on year in­fla­tion rate, ac­cord­ing to Zim­babwe Na­tional Sta­tis­tics Agency (ZIMSTAT), rose to 20, 85 per­cent year-on-year largely due to ris­ing prices of ba­sic com­modi­ties among them cook­ing oil, sugar and flour. Busi­ness has sited the un­avail­abil­ity of for­eign cur­rency as the ma­jor cost driver as they are now be­ing forced to go to the par­al­lel mar­ket where rates are much higher.

The Pres­i­dent also un­der­scored the im­por­tance of the pri­vate sec­tor in the quest for eco­nomic re­vival and the at­tain­ment of Vi­sion 2030.

“You in the pri­vate sec­tor are key part­ners in our quest to be­come an Up­per Mid­dle In­come Econ­omy by 2030. The theme of this con­fer­ence . . . is in sync with the on­go­ing mod­erni­sa­tion and in­dus­tri­al­i­sa­tion agenda. It fur­ther res­onates with the com­pre­hen­sive re­form mea­sures that my Gov­ern­ment has put in place to re­sus­ci­tate the econ­omy,” said the Pres­i­dent. Speak­ing at the same event, ZNCC pres­i­dent Ta­muka Macheka said the blocks on which the econ­omy is cur­rently stum­bling on are a sign that

there is some move­ment hap­pen­ing.

Mr Macheka said the suc­cess of the re­vival quest hinges on how stake­hold­ers re­spond to the cur­rent chal­lenges and di­a­logue be­tween busi­ness and Gov­ern­ment is one such pos­i­tive re­sponse.

“I must men­tion at this point ladies and gen­tle­man that it is only the one who is walk­ing or run­ning who can stum­ble, but those that are seated, will never stum­ble,” said Mr Macheka.

“So if we stum­ble, it means we are walk­ing, and the im­por­tant thing for us to go back on the jour­ney is to rise up and keep on walk­ing,” he said.

— (Pic­ture by Mem­ory Man­gombe)

Zim­babwe Women’s Mi­cro­fi­nance Bank (ZWMB) chief ex­ec­u­tive of­fi­cer Mrs Man­das Marikanda ad­dresses del­e­gates at a women af­fairs stake­hold­ers meet­ing in Harare on Wed­nes­day.

Newspapers in English

Newspapers from Zimbabwe

© PressReader. All rights reserved.