The KM Financial Solutions CEO Africa Roundtable begins today in the resort town of Victoria Falls amid high expectations the country can attain the $100 billion economy status by 2040 if the correct policies are put in place.
Analysts this week said the $100 billion economy is achievable, but there was need to change the current policies to attract foreign direct investment.
Economist John Robertson said the $100 billion economy was technically achievable, but would require huge amounts of capital and investor-friendly policies.
We need to change the policies so that the country begins to attract investment, said Robertson. Policies directly affect the economy. We will never have much investment because we make the investors feel unwelcome.
Godfrey Kanyenze said the country may achieve a $100 billion economy, but there was need to ensure the poor benefited from the economic growth.
It is the quality of growth that matters, not the quantum, he said. You need high levels of growth that are pro-poor and inclusive, he said. Kanyenze said according to him the growth has to be distributed fairly.
Another commentator said the target is achievable, but key drivers like agriculture must function to the fullest capacity.
This economy is strong in agriculture. We need long-term economic drivers to achieve the $100 billion economy, he said.
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Various stakeholders in the economy are expected to discuss issues that could boost the countrys chances of achieving the $100 billion economy at the fourth session of the Roundatable.
The meeting is expected to be addressed by Common Market for Eastern and Southern Africa secretary-general Sindiso Ngwenya, Deputy Prime Minister Arthur Mutambara, Finance minister Tendai Biti, Tourism Hospitality minister Walter Mzembi, Industry and Commerce minister Welshman Ncube and Business Council of Zimbabwe president David Govere.
The $100 billion economy is set to reduce unemployment to 30% from 80% the current while the gross domestic product will be at 20% in 2040. Power will increase to 36 000 megawatts (MW) in 2040 from the current 1 750MW. Banking deposits are expected to grow by $20 billion in 2040 from the current $3,2 billion.
