Mugabe tell businesspeople to repay their loans

PRESIDENT Mugabe has castigated Zimbabwean businesspeople who are in the habit of defaulting on their debt obligations saying the culture was detrimental to the country's economy.

In his keynote address during the 34th Independence anniversary celebrations at the National Sports Stadium in Harare on Friday, the President urged small and medium businesses to oil their operations through various loan facilities availed by Government.

However, he insisted that the businesspeople repay the loans.

"If you need funds, talk to the windows we created for you in your particular area, especially the small and medium enterprises," said President Mugabe.

"They are part of the mechanisms which add to the overall system of funding.

"But do not be a good borrower and a bad, bad debtor. A good borrower who is also a good debtor will repay the money.

"Kwete kuzoti watora chikwereti wakuvingwa wakunotora demo sezvinoita vamwe (hatshi ukuthi ma usuthethe isikolodo ma usulandwa ubusugijimela ukuyadinga ihloka njengabanye.).

"Woti shamwari ahh ndirikukupawo uvake chirugwi mangwana wozondipawo, mangwana acho okupindukira, oburitsa banga wondibaya naro (Uthi mngane ahh ngikunikeza ukuthi wakher isilugu unginikeze kusasa, kusasa umuntu sekujikela, sekhupha ingqamu sengokugwaza ngayo).

"Hatidi, hatidi vanhu vakadaro (Asifuni abantu abanjalo).

"Tinoda vanhu vaneruzivo rwekuti iwe wakapihwa chisi chako chikava chako, nhasi chako chichipawo udzorere munhu uya akakupa chikwereti (Sifuna abantu abaziyo ukuthi ma unikezwe okungasikwakho isikhathi singafika babisele).

"Hamudi kudzoreera zvikwereti zvevanhu pamusana peyi? (Yindaba lingafuni kubisela izikolodo?)

"Ah that's not good. There is a moral issue there, to pay back what you have borrowed.

"Even dzidziso dzadzidziswa kuvana vedu (Even izifundo ezifundwa ngabantwabethu), the teachings of Mao Tse Tung vakati dzoserai pamunenge matora, matorera kuvanhu kunevanhu mukufamba kwenyu, macomrades iwayo ataiudza. Iyi ndotsika inofanira kuitwa (wathi bisela oyabe ukuthethe)."

President Mugabe said through the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim Asset) economic blueprint Government intended to provide, simultaneously, an enabling investment climate, a growing economy and an empowered society.

He said every Zimbabwean had a role to play in the implementation of Zim Asset.

The President added that industry should seek to export more in order to address the liquidity crunch that has been affecting the economy.

"Zimbabwe's manufacturing sector continues to experience various challenges; chief among them is the liquidity crunch and the widening trade deficit.

"The country is also experiencing a rapid de-industrialisation process, which is a clear sign of unhealthy financial situation.

"The country's trade balance shows that we are importing more goods and services than we are exporting. Government should work actively to promote the export of value-added commodities, but at the same time discourage the importation of goods that are readily available on the local markets. This should, hopefully, reduce the trade imbalance."