Zimbabwe has the potential to become the fifth strongest economy in Africa if it adopts economic policies that ensure provinces are able to manage their natural resources, a leading economist has said.
Addressing guests at a democracy onference in Bulawayo over the weekend, economist Eric Bloch said the country had many natural resources giving it potential to be the second biggest economy in Sadc and the fifth biggest on the continent.
“We have a potential to be the fifth strongest economy out of all countries of Africa. We have land. Under that land, we have vast wealth and we are exploiting only a little of it. Thirdly, we have such a vast variety of tourism resources; the splendour of the Victoria Falls, the grandeur of the Matopos,” he said.
“Fourthly, even after damaging our economy, we are still the second most developed in terms of the industrial sector in the whole of the southern region. Lastly, we have able and willing people.
Currently there is this belief that the only economic activity is in Harare.
The impression of a thriving economy in Harare is created because it is the base of diplomats, senior government officials and ministers who patronise hotels.
But Harare is full of people in the streets. I know that my clients in Harare are struggling just like my clients in Bulawayo, in Gweru.”