ED builds in­ter­na­tional dream team

The Sunday Mail (Zimbabwe) - - BUSINESS - Africa Moyo Se­nior Busi­ness Re­porter

GOVERN­MENT will soon un­veil an In­ter­na­tional Ad­vi­sory Coun­cil which will ad­vise Pres­i­dent Mnan­gagwa on global eco­nomic is­sues and push the re-en­gage­ment process.

The team will also as­sist the coun­try in hav­ing the US sanc­tions law, the Zimbabwe Democ­racy and Eco­nomic Re­cov­ery (Amend­ment) Act 2018, re­moved.

Mem­bers of the coun­cil, some of whom are linked to in­ter­na­tional fi­nance in­sti­tu­tions, could be an­nounced this month.

In­dus­tri­al­ists also pro­posed es­tab­lish­ment of a lo­cal ad­vi­sory coun­cil dur­ing their in­ter­face with Pres­i­dent Mnan­gagwa at State House in Harare last Mon­day.

Pres­i­dent Mnan­gagwa agreed with the pro­posal and asked the in­dus­tri­al­ists to sec­ond names of their “best brains” to con­sti­tute the group­ing.

Last week, Deputy Chief Sec­re­tary to the Pres­i­dent and Cab­i­net (Pres­i­den­tial Com­mu­ni­ca­tions) Mr Ge­orge Charamba said: “We are work­ing on an in­ter­na­tional ad­vi­sory team. So we will have a lo­cal ad­vi­sory busi­ness team but there is also go­ing to be an in­ter­na­tional ad­vi­sory team.

“By now we are in the fi­nal stages and in the next two to three weeks, we should have some an­nounce­ment of sorts. “We are look­ing at re­tirees from IFIs; we are look­ing at per­sons from Amer­ica, we are look­ing at per­sons from Britain, per­sons from China; we are look­ing at char­ac­ters from Ger­many, we are look­ing at char­ac­ters from South Africa; and we are also look­ing at em­i­nent Zim­bab­wean busi­ness­peo­ple.”

Mr Charamba said some of the peo­ple were con­sulted dur­ing the 73rd Or­di­nary Ses­sion of the United Na­tions Gen­eral As­sem­bly in New York in Septem­ber, but de­clined to men­tion names as con­sul­ta­tions were on­go­ing.

“It worked very well in Rwanda. Rwanda used that to good ef­fect. That busi­ness coun­cil will not just ad­vise the Pres­i­dent on in­ter­na­tional eco­nomic is­sues, it will also help us in the re-en­gage­ment process.

“Es­sen­tially, it means help­ing us de­velop strate­gies of rolling back sanc­tions and also en­gag­ing in­ter­na­tional fi­nance mar­kets for new credit lines,” said Mr Charamba.

At a meet­ing be­tween Pres­i­dent Mnan­gagwa and Di­as­po­ran Zim­bab­weans in New York in Septem­ber, Fi­nance and Eco­nomic De­vel­op­ment Min­is­ter Pro­fes­sor Mthuli Ncube — who was part of the Zimbabwe del­e­ga­tion to the Gen­eral As­sem­bly — said the board would have about ten peo­ple.

“This is not an un­usual path. Pakistan has an­nounced its in­ter­na­tional ad­vi­sory board, it was done by the new Prime Min­is­ter Im­ran Khan. So­ma­lia has just set up a board, So­ma­liland has a board as well. Rwanda has a board. In Nige­ria there used to be a board but I’m not so sure now. But this is com­mon prac­tice, we should get the best minds to as­sist us,” Prof Ncube ex­plained.

As part of Pres­i­dent Mnan­gagwa’s in­ter­na­tional en­gage­ment and re-en­gage­ment drive, his ad­min­is­tra­tion is lob­by­ing for an end to eco­nomic sanc­tions on Zimbabwe as well as nor­mal­i­sa­tion of re­la­tions with mul­ti­lat­eral lenders and de­vel­op­ment part­ners.

This is in line with his vi­sion to cre­ate an up­per mid­dle-in­come by 2030.

US sanc­tions di­rect Amer­i­cans at IFIs to block ex­ten­sion of credit to Zimbabwe, and Prof Ncube is in Jan­uary 2019 ex­pected to travel to that coun­try as part of the anti-em­bargo lobby.

Last week, lead­ing busi­ness­man and Econet founder Mr Strive Masiyiwa said, “... sanc­tions should be re­moved, there’s no jus­ti­fi­ca­tion for them any­more.

“They should be re­moved. I’ve al­ways been on record to say the sanc­tions are not jus­ti­fied and now we’re al­most 20 years into the sanc­tions. You can’t have one coun­try op­er­ate with its hands tied be­hind its back.”

Newspapers in English

Newspapers from Zimbabwe

© PressReader. All rights reserved.