Zimbabwe economy on death bed

Industry officials have said that anxiety over the forthcoming general elections and perceived risk is stalling the country's efforts to harness the much needed capital.

Speaking at a one day-conference organised by the Business Council of Zimbabwe in Harare yesterday, TA Holdings Limited group chief executive officer Shingi Mutasa said the country had to take a bold decision if it was to attract liquidity into the economy.

He said the ongoing wait-and-see attitude was not good for the country.

CBZ group chief executive officer John Mangudya said this was the worst time to run a financial institution as the demand for money was high yet there were no funds.

Mangudya said the country could decide on a prime rate as financial institutions received money from different funders.