eBusiness Weekly
Enacy Mapakame
HARARE – President Emmerson Mnangagwa is next month expected to headline an economic and financial indaba in Harare as economists and business leaders deliberate on possible solutions country’s economic woes.
This comes as the country faces a myriad of challenges key among them foreign currency shortages, erratic power supplies, high inflation that has resulted in waning disposable incomes.
Organisers of the indaba, Global Renaissance Investments (GRI) chief executive officer Ngoni Dzirutwe, said there was need for Zimbabweans to come together and deliberate on a way forward and restore the country’s economic fortunes.
“The worsening economic crisis has prompted accusations of government mismanagement, but we all need to join hands as Zimbabweans and propagate home grown solutions to revive our economy.
“While it is important for the country to re-engage with the international community and follow prescriptions of the International Monetary Fund, it is equally important that captains of industry, the academia, politicians, non-governmental organisations and entrepreneurs to provide local solutions,” he said.
The Indaba, to be held on November 07 will run under the theme “Driving towards 2020 economy anchored on production and export.
Some of the key issues that will be discussed include leveraging on agriculture, mining, and industry to boost exports.
Government envisions an upper middle income economy by 2030 and this growth will be driven by agriculture, mining, manufacturing and tourism among some of the key economic sectors.
Mining for instance, is seen growing into a US$12 billion sector by 2023 which will help drive economic growth and towards achieving Vision 2030.
Mr Dzirutwe added the Indaba will also help explore ways the country can derive maximum benefits from the agriculture sector, which has for long been the backbone of the Zimbabwe economy.
“The current economic challenges we are experiencing are as a result of reduced production levels, hence the need for farmers and industrialists to ramp up production and target the export markets.
“We can learn from various countries such as Canada, which also experienced what we are going through between 1993 and 1996, but grew its economy successfully through austerity measures and an export-driven economic growth.
“The private sector played a key role in bringing economic stability in Canada, hence it is crucial for our government to create a conducive operating environment for business and guarantee tax incentives where possible,” he said.
The Indaba will also be an opportunity for businesses to exchange ideas with ministries of Energy as well as Industry, interrogate foreign currency shortages and taxes that affect businesses as well as topical issues around insurance models and international markets.
Speakers expected at the event Tan Tsiu Yinn from Malaysia, Confederation of Zimbabwe Industries president Henry Ruzvidzo, Zimbabwe National Chamber of Commerce chief executive officer Takunda Mugaga, Zimbabwe Farmers Union’s Paul Zakaria and Dr Shingi Munyeza, who is a member of the Presidential Advisory Council.
