We will make Zim an entrepreneurial society

By The NewsDay | Jun. 23, 2022 | 3 Min read

Our policies will be predictable, consistent and guarantee certainty — this will help citizens, economic agents, workers, business and investors to plan with certainty.

BY Nelson Chamisa THE citizens government will come up with a policy framework and turnaround strategy which among others includes:

Developing demand-driven policies informed by inclusive policies and inclusive politics anchored upon an inclusive dialogue with all political actors, economic players, labour, business, civil society and academia with a view to build a new consensus and buy-in.

Our policies will be predictable, consistent and guarantee certainty — this will help citizens, economic agents, workers, business and investors to plan with certainty.

The corrupt will be an endangered species and extinct. We will eliminate corruption, enforce rule of law, foster political tolerance, constitutionalism and respect of property rights, which, combined, are critical ingredients required to attract investment, savings and production.

Resolving the debt crisis in Zimbabwe by engaging the multilateral community and opening Zimbabwe to the world.

We will make Zimbabwe an entrepreneurial society — new industries, new factories and new companies and new sectors and employing more.

We will embark on radical central bank reforms on the back of wide consultation with bankers, business and labour.

We will start with full dollarisation and then create a conducive environment and the right confidence levels for the adoption of our local currency.

As part of our de-dollarisation roadmap, we will make sure that we meet the following:

Fiscal consolidation;
Current account surplus;
Six months import cover (forex reserves);
Stable exchange rate;
Single digit inflation; and
Productive and competitive economy.

On the back of a well-functioning economy powered by production and a stable macro-economic environment, we will provide dynamic social services with a robust health and education system, a well-functioning welfare system and a highly rewarding civil service attracting workers from the private sector.

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In 2018, annual inflation was 5% but the regime has guided inflation to 837,5% in July 2020 and somehow managed to drop inflation to 55% in July 2021 after having used hard-earned foreign currency from exporters to bribe the economy by dishing it out at unreasonably controlled rates. Now they have run out of steam, annual inflation is now wreaking havoc again and shot to 132% in May 2022 — it’s not turning back.

The 2019 budget was $8,1 billion but has shot up by 11900% to $960 billion in 2022 — it’s unprecedented. Funny enough, salaries have not risen by the same magnitude.

Poverty levels, as reported by Zimstat, show that the number of people in extreme poverty has risen from 29% (4,64 million) to 49% (7,9 million), that is an additional 69% of the population was pushed into extreme poverty in the last four years.

Civil servants were earning US$540, but teachers are now taking home $30 000 which is equivalent to US$42 … Hospitals are now death traps … women are being asked to buy consumables for them to be registered to give birth.

Likewise, the education system is in the graveyard. Parents have assumed the role of government by paying teachers incentives with a view to arrest the situation.

War veterans and pensioners have been reduced to beggars.

Corruption has reached alarming levels. The recent audit on COVID-19 funds shows that the monies were squandered and the targeted beneficiary (vulnerable groups) never received anything.

Failure is written everywhere and all over. And we must end and fix this.