Zimbabwe economy needs economic, strategic and sound development policy

The economic outlook is not good for now and we must pray for our country. We can never make cheap political gains and mileage over an ailing economy. My desire is to see Zimbabwe getting back to its wheels once again. The road has so many patches; it calls upon all like-minded progressive Zimbabweans to participate in the national building process to achieve our economic objectives. What exactly do we need for our country to achieve economic objectives? Are we in the right direction or we have to go an extra mile, in terms of policy reformation? There are times we as citizens we are supposed to make collective decisions together with the entire central governance system. You don't need to wait for the Government, you can simply forward your suggestions and they can make an impact on our economy. The problem of our country, we have politics of the belly, as long as you are not part of the system, you can't participate, and it will never concern you. Who knows maybe your input can be a priority in the next cabinet meeting. Myself I don't think it's a good idea to restrict ideas to Government officials only or Government advisors, ideas should be inclusive and accommodative.

Investment Conference

I suggest the Government should put an agenda to have a investment conference for Zimbabwe. We must have an indaba to debate policy issues. As we speak we don't know exactly where we are going. There is need for our country to set an indaba over policy and investment matters. This can involve potential investors, mining sector, agriculture sector, business community, diplomats, academics, stakeholders and other key people who can help to shape our economy. Government must not rely on their source; there is need for ideas to come from policy makers who can make independent decisions. It will be ideal for the Government to make use of the investment conference to market and re-brand our country and offer sustainable solutions. What is happening currently has nothing to do with the economy. We can borrow funds, or allow those to return funds that were externalized but that is not the solution, we have a political question that remain unanswered. So in order for investors to settle for us we have to move in and clear ourselves on policy and property rights.

Policy Document

There is need for a draft which caters for all critical sectors of our economy e.g. mining, agriculture, infrastructure development and tourism. We have a potential to grow our economy by 11.5% if we put proper policies that can shape the economy. We have people like Dangotte who promised to come back to invest in Zimbabwe, but we haven't heard of him. Dangotte has economic interests in mining, agriculture and tourism in other neighboring countries. In Zambia alone he invested in a cement plant, employing more than 20 000 people and he has promised to open other avenues of the economy. All investors want is policy clarity and consistency and once you do that then you can speak from the same script and you can use the same language. We have been duped with dubious investors who pretended as if they were real investors and because of our desperation as a country, we had to fall for this, which is why we failed to recover our diamond and mining proceeds. I would suggest the President should come up with a second national development plan, and launch the programme and this will open waves for foreign investors. Alone we can't do it and we need foreign investors to build and provide sustainable development through creation of employment, food security, climate change, infrastructure development and clear nation future plan.

Property Rights

Property rights are an important question. Investors want to make sure that their properties are very safe. In the previous Governments people like Kasukuwere were involved in dubious deals and most investors were duped and that is why they are reluctant to come forward until the new Admin puts their house in order. Simple mathematics, transparency + honest = integrity divide by Foreign Direct Investment = success. Our constitution should be clear regarding investors and their properties. Look at white farmers, some are already losing farms under new administration and this is a risky behavior and this may motivate investors to be reluctant to invest in our dying economy.

Debt Clearence Plan

How much do we owe as nation? Whom do we owe as a nation? How much do we intend to borrow for the resuscitation of our ailing economy? To me something is not adding up, given that in the past, we were used to so many stories and propaganda from the state media without informing the whole nation the reality of what exactly is on the ground. We have arrears and we have so many creditors, won't it be prudent for the minister of finance and the respective Governor of Zimbabwe to inform the nation how much we owe the international banks and other critical financial institutions. It is important to promote transparency. I suspect the money to buy cars for Government chiefs was sourced somewhere and in our nostrils accounts I doubt if we have any cash or reserves, so how then we grow as an economy if we go about borrowing. There is need for the President and minister of finance to inform the nation on the state of our debts.

Tinashe Eric Muzamhindo writes in his personal capacity as the Head of Southern Institute of Policy Analysis and Research – SIPAR TRUST, which is responsible for policy analysis and research. He is also an academic and researcher. He holds a BA, MA from Solusi University, and he also holds a Masters of Development Studies from University of Lusaka, Zambia. He is currently enrolled at University of KwaZulu Natal University in South Africa (PHD in Development Studies). He is also an adviser to many financial and political institutions within and outside Zimbabwe. He can be contacted at southerninstitutepar@gmail.com