Be innovative to stay afloat, business told

Dumisani Nsingo, Senior Business Reporter
PROMINENT Bulawayo businessman Mr Clemence Kunzekweguta says businesses should thrive to be innovative and explore various investment opportunities in this turbulent economic environment to keep their entities afloat.

Speaking at a Zimbabwe Institute of Management southern region graduation ceremony on Friday where he was the guest of honour, Mr Kunzekweguta said the success of companies lies in their ability to solve challenges and converting the solutions to viable business ventures.

“As business leaders probably you should stop lamenting about things you cannot change and concentrate on those things you have the capacity to change and act positively and profitably on them. Most people have a tendency of shifting blame and concentrate on crying about macro-environmental factors they do not have control over.

“What is most important for business leaders is always to take cognisance of the fact that where there is a myriad of problems there are a plethora of opportunities. Therefore as a business leader, while you acknowledge the problems or challenges your eagle eye should always be scouting for opportunities that you can turn into viable business ventures,” he said.

Mr Kunzekweguta said it was also possible to successfully turnaround the country’s economy through taking a leaf from countries such as South Korea which had to rely on being bailed out by the International Monetary Fund and Organisation for Economic Co-operation and Development.

“There are some of you who think that Zimbabwe’s economy is bad and cannot be salvaged. Let me tell you that there have been countries who have been worse off but now are at the top. A case in point is South Korea. In Asian financial crisis, the South Korea economy suffered a liquidity crisis and relied on the bailout by IMF. South Korea was a historical recipient of official development assistance from OECD.

“In 1960 its Gross Domestic Product per capita was $79, which was lower than that of some sub-Saharan countries. Now the economy of South Korea is the fourth largest economy in Asia and the eleventh largest in the world. So we can also soar the economic ladder and become one of the most powerful economies,” he said.

@DNsingo