Last week was an economics 101 experience. I had the pleasure of meeting two great professors of economics who took me through the paces of the realities that come with economic issues. This was much needed after a conversation with women vendors who are at a loss with what is happening with the South African rand. The women argued that no one wants to trade using the rand because they say it “does not buy”, meaning it currently has been negatively affected by world financial dynamics. Well, how to pitch the conversation was what got me seeking insights into the basics of economics so that we would, as women, come together again and explore what this means to us. As always, it is a pleasure to share a few insights and so, here we go.
BY Grace Ruvimbo Chirenje
There is a growing trend of emerging ideologies with each and every day of our lives. Some of us are too busy to care , while others will make it part of their daily practice to learn something new so that it makes a difference for them and others.
For every progressive leader, it is essential to has a ritual that will ground them into theory so that they are able to provide some basic answers to those they lead. However, what happens when the leaders do not seem to care about the lives of those they lead? Well, this is the case in most instances. The trend is, even though a country is rich in resources, such as Zimbabwe, this does not necessarily translate into development, equality and equity. It is not enough for a country to have resources, there has to be systems that govern conduct in order for the resources to have meaningful utilisation and benefit the people socially, politically and economically. Zimbabwe, for example, is endowed with minerals, fertile land and brilliant minds. This is something we ought to embrace and celebrate as we explore new territory and likelihoods. It is very possible for Zimbabwe to be able to rise above this status quo and become the breadbasket of Africa once again. All it takes is tweaking how we do things here and there.
Zimbabwe needs to have efficient and consistent laws, policies and strong institutions in order for there to be a functioning economy. We do have the
resources, but lack of the aforementioned is what continues to haunt us. So it does not help us that while one government official is negotiating for debt cancellation in some part of the world, another is breathing fire over indigenisation. It speaks to inconsistency of policies and thus gives investors cold feet. On the other hand, it also is not helpful that Blue Ribbon investors get 100% share ownership, while others are given a ratio, there is no consistency there again.
When government does not have a strong enforcement arm and lets corruption get to such frightening levels, no one would surely want to invest their money in such an unstable environment. What is needed is the predictability of realities when one wants to put in their money. Once we dillydally like we are doing, we will continue to witness the inequalities, corruption and lack of investors. It is not that investors are not coming to explore synergies; they are. It is after the consultations that they realise Zimbabwe is fertile ground for investment, but the policies, laws and institutions frighten them away.
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Let us not get all gloomy with our reality for there has been a strong realisation of this reality and now, there are certain quarters of the government that have started to make life easy for investors. I hear that in Harare, there is a very strong movement towards easing business possibilities for those who want to invest. So instead of having these stringent measures to open a shop, it could become much easier to open a business in the city centre and the laws will not be disempowering, but rather empowering and encouraging for businesspeople to invest. This means inspections might not be as hectic as they used you be and licensing will be more efficient. This could help the economy flourish. It is possible.
It does not need all of us to be economists, but for those of us who care enough to see Zimbabwe flourish to facilitate for conversations that matter in getting the country forward. It is about you and me holding hands and unpacking our lived realities then making sure that we lobby and advocate for what we deem best for our country. It may look like we are not winning, but the truth is that everyone is seeing the urgent need to do business unusual for there to be transformation of our economy.
We could also start by refusing to pay bribes so that we strengthen our enforcement wings. Naming and shaming bad performers is another good initiative assuming that people who are named will be motivated towards change. It will not take a few hours or days or even weeks, but as they say, in order to eat an elephant one needs to take a bite at a time then eventually the elephant will be eaten up. We should consider how best to implement the 10-Point Plan that was developed to turn around the economy. We hope, pray, act and do whatever it takes for this economy to get ahead. I do know that the two economics professors that I met have been doing brilliant work advising and writing. Ours needs to be a multi-pronged approach involving the business community, development workers, government and foreign players for us to see things begin to work. No abuse, but candid insight on how best we move forward in order to facilitate change in the various quarters of the economy. Each one of us has a role, so let’s do this!
lGrace Ruvimbo Chirenje writes in her personal capacity and loves stimulating conversation. She would be excited to hear from you. You can contact Grace on [email protected], follow her on twitter @graceruvimbo or Facebook: Grace Ruvimbo Chirenje. Chat soon.
