NewsDay Business Reporter Victoria Mtomba takes a look at the two main political parties’ manifestos focusing on economic policies.
THE 2008 elections were characterised by a record 231 million percent annual inflation rate and a worthless currency. Due to the poor state of the economy the manufacturing sector almost ground to a halt while trading on the stock exchange was suspended only to resume after the formation of the inclusive government.
Below are some of the policy interventions promised by the Morgan Tsvangirai-led MDC-T should Zimbabwe elect the party into office. To address the current challenges facing our economy, the MDC will:
Increase access to credit;
Foster cluster-based development;
Maintain the multiple currency regime through 2018;
Devolve resource management and decision-making to the local communities;
Resuscitate companies and entities with potential to provide jobs; Increase utilisation of the workforce capacity;
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Increase exports by re-engaging in the international economic system;
Foster entrepreneurship by strengthening the business-enabling environment.
Economy Convene a local stakeholder consultative conference on the economy;
Review and modernise business and laws to increase ease of doing business;
Convene an international conference to mobilise financial support for economic reconstruction;
Initiate concrete steps to resolve Zimbabwe’s external debt overhang;
Re-engage international financial institutions to open lines of credit
Conduct a review of all laws and public policies inhibiting legitimate investment;
Establish a transparent process of revenue collection from diamonds and other national resources;
Establish the Land Commission in compliance with the new constitution;
Create a sovereign wealth fund and equalisation fund;
Initiate a programme for the return of skilled Zimbabweans from the Diaspora.
Infrastructure Create tax incentives and a Housing Fund for low-income housing development;
Introduce the Energy Management Act to address energy and electricity shortages;
Introduce a National Road Network Development and Maintenance Plan. Mines and Mineral Wealth: Zimbabwe is blessed with immense natural resources. We must ensure these resources are used for the betterment of our economy and people.
The MDC-T will create a sovereign wealth fund and equalisation fund to broaden citizens’ economic participation and ensure all citizens benefit from the responsible management of our natural resources.
Corruption, mismanagement, and political patronage have diverted the vast majority of mining revenues away from the appropriate government authorities.
Most notably, we have seen the nation’s diamond revenues flow into the hands of a corrupt few. Mining and Mineral Development is a crucial element of our economic strategy and we will maximise the benefits of our resources.
Establishing an equalisation fund and sovereign wealth fund managed by a transparent board accountable to the people through parliamentary oversight;
Ensuring the benefits of this wealth are realised in all regions of Zimbabwe;
Revisiting all mining agreements in which the government is engaged;
Creating spatial linkages to the sector;
Reviving the role of Fidelity Printers and Refiners;
Supporting Small and Medium Enterprises gold production.
Brief history of the parties . . .
ZANU PF: The Zimbabwe African National Union (Zanu) was founded by Ndabaningi Sithole, Robert Mugabe, Henry Hamadziripi, Mukudzei Midzi, Herbert Chitepo, Edgar Tekere, Edson Zvobgo and Leopold Takawira at the house of former Defence minister Enos Nkala in Highfield in August 1963.
The Patriotic Front (PF) was originally formed in 1976 as a political and military alliance between Zapu and Zanu during the war against white minority rule in Zimbabwe (then Rhodesia). The Patriotic Front included Zapu led by Joshua Nkomo operating mainly from Zambia, and Zanu (Zimbabwe National People’s Union) led by Robert Mugabe and operated mainly from neighbouring Mozambique.
Zanu PF, the party which emerged after the coalition of Zanu and Zapu, has been in power since independence led by Mugabe. The party has, since independence, pushed for a one-party State triggering resistance from emerging opposition parties.
In the 2008 parliamentary election Zanu PF lost sole control of Parliament for the first time in the party’s history, brokering a difficult power-sharing deal with the Movement for Democratic Change (MDC).
