HomeOld_PostsSolutions to revamping economy in our hands

Solutions to revamping economy in our hands

Published on

BIGTIME Strategic Group chief executive officer Justice Maphosa has called on Zimbabweans to have the right mindset and solutions to move the country forward.
Speaking during the ‘Ease of Doing Business’ workshop in Harare recently, the multi-millionaire said Zimbabweans needed to look no further than their surroundings for solutions to revamp the economy.
After a decade of battering from illegal sanctions imposed on the country by Britain and her allies, efforts are on-going to revive the economy.
“I have not seen any country as blessed as our nation. Zimbabwe is turning around. Look at the rains we received! We are having a bumper harvest. Look at the discoveries of gas and diamonds. There is the remittance of over US$2 billion from abroad, bigger than the country’s GDP! So why the cash shortages? This requires a dialogue for Zimbabwe,” said Maphosa.
“But what is the problem? The answer lies with us. We are our own nightmare… no one will assure us of anything but ourselves.”
According to the man, Trevor Fisk, who gave Maphosa his first break, which was washing trucks, “Justice never asked me for money, instead he spoke about his passion for computers”.
In 1998, the unassuming businessman founded his first company, Computer Ink and Media Solutions which sold recycled printer cartridges.
The South African-based businessman, who has made it a point to invest in the country and sponsor various programmes which include beauty pageants, said the country had enough resources to sustain itself.
“Zimbabwe has been missing this point. Begging bowls will not do it. Any nation which blames others for its failures and other factors is doomed because people will simply withdraw their support and leave us exposed,” Maphosa said.
“We need a frank dialogue, no fear, no favour,” he emphasised.
Empowerment programmes have seen a majority of Zimbabweans owning the means of production but corruption in some instances and lack of patriotism has resulted in most ventures created being a drain on the fiscus, he said.
There are some business people who instead of investing in the country, have externalised funds to the detriment of the nation.
However, the country is on a recovery path with various strategies put in place steer the economy in the right direction.
For example, since the introduction of Statutory Instrument (SI) 64 of 2016, a lot of companies have ramped up their production.
Last year, capacity utilisation, which is a measure of industry’s use of installed productive potential, rose to 47,4 percent up from 34,3 percent in 2015.
Maphosa said it was time for self-introspection and a search for local solutions.
“For years we have been pinning our hopes on our friends China, Russia and Malaysia but this can’t be left to anybody else…We need to stop blaming each other because there is no nation without business. If there is no water or money, it doesn’t matter which party you are in (sic),” he said.
“We need to look for investment from ourselves, our friends and our children in the Diaspora.”
The businessman cited red tape as a major hindrance to doing business.
For instance, he said: “The registration of a business including, the clearance with ZIMRA and acquiring licences is taking months. How does one invest, taking aside the umbilical code?
“The Ease of Doing Business in Africa is ranking Rwanda as number two with countries like Botswana being number four and Zambia number nine. Just a few years back, Rwanda had in a civil war but it has passed us,” Maphosa lamented.
“We need to dialogue… Countries like Benin, Mali, Niger and Egypt have eliminated the need to have longer processing requirements, reduced the cost of registration for companies and created one-stop shops.
“This is not rocket science. Someone in the world has already done this. The answer lies in technology, in eliminating the need to carry money in the physical form in order to eliminate the banking queues.”
Daniel Silke, an economic and political analyst, said the country needs to take advantage of global trade trends and provide the necessary services.
“It is important to understand the growth rates of trade around the world. We need to understand markets such as China so as to export to these markets. The global economy is looking good with emerging markets now contributing significantly to the world’s Gross Domestic Product (GDP). The country needs to have products that fellow African countries can buy at affordable rates.”
Silke added that the country needs to do more to rebuild its battered image, adding that ‘the outside world needs more convincing about how safe Zimbabwe is’.
Dirk Elzinga, an international business consultant, said the travel business had enormous spin-offs that the country must take advantage of.
“The travel business is a very important business. It has enormous economic spin-offs and must be used as a promotional tool. Create a brand and value proposition for the destination. Keep the destination welcoming and stimulate pre and post-tours and make visitors feel special,” he said.
Meanwhile, stakeholders have called for the improvement of infrastructure to reduce the cost of doing business and make products competitive on the international market.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest articles

Kariba Municipality commits to President’s service delivery blueprint

By Kundai Marunya IT is rare to find opposition-controlled urban councils throwing their weight on...

The resurgence of Theileriosis in 2024 

THE issues of global changes, climate change and tick-borne diseases cannot be ignored, given...

Britain haunted by its hostile policy on Zimbabwe

TWO critical lessons drawn from the recent debate on Zimbabwe in the British House...

The contentious issue of race

 By Nthungo YaAfrika AS much as Africans would want to have closure to many of...

More like this

Kariba Municipality commits to President’s service delivery blueprint

By Kundai Marunya IT is rare to find opposition-controlled urban councils throwing their weight on...

The resurgence of Theileriosis in 2024 

THE issues of global changes, climate change and tick-borne diseases cannot be ignored, given...

Britain haunted by its hostile policy on Zimbabwe

TWO critical lessons drawn from the recent debate on Zimbabwe in the British House...

Discover more from Celebrating Being Zimbabwean

Subscribe now to keep reading and get access to the full archive.

Continue reading