adminTHE 35-year journey from 1980 has definitely had its fair share of boom and bust cycles, but, most importantly, there have been many exciting and thrilling episodes.
At 35, Zimbabwe is still a very young and fledgling economy relative to the United States of America, whose US$14 trillion economy is the biggest in the world.
America, with which we share the same colonial master in Britain, got its independence on July 4, 1776.
As we have been making our baby steps as a nation, mistakes have inevitably been made, as happens to most nations in similar circumstances.
But the most important factor is to learn from the mistakes, which I am confident we have done.
Regardless of our economic challenges, we still stand strong as a people and we have been as innovative as ever.
So many black entrepreneurs have been created over the last 35 years; we now have a fair share of millionaires in our midst, including young millionaires.
In business, Strive Masiyiwa stands head and shoulders above the rest of the country’s most eminent exports. He is ranked highly by Forbes.
Mr James Manyika, a director at Mckensey USA, is also a luminary.
No doubt, legions of locals in the Diaspora continue to contribute immensely through remittances.
It is because of this outstanding human resource, that the country has remained buoyant, surviving through bouts of sanctions and restrictions from countries that are ill-disposed towards Harare.
But even in the Bible, which continues to provide invaluable life lessons, the Israelites had to escape from the clutches of Egypt to the Promised Land.
Already, there are signs that the economy is on a recovery path. It’s clearly a matter of time.
I have no doubt in my mind that our economy will be strong again very soon. To date, the 1988-89 Willowgate scandal stands as a beacon of how the local leadership is averse to the corrupt abuse of public office and State resources.
From the scandal, which resulted in the resignation of a provincial governor and five Cabinet ministers, the State emerged stronger.
The freshly minted code of conduct and the recently unveiled corporate governance are testimony to what the country has learnt over the years and it bodes well for future economic growth. But, admittedly, 26 years after the Willowgate scandal, corruption is a serious cancer in our country, a stubborn diseases that pervades both the public and the private sector.
Recently, two Air Zimbabwe bosses were each slapped with effective seven-year sentences for abuse of the public office. It is not so much the custodial sentence that is being celebrated but the deterrent nature of the sentence. It is only hoped that this will serve to cut back the plague.
Also, the launch of the Corporate Governance Code in itself represents Government’s resolve to address some of the problems that have been holding back development for so long.
The lessons that have been learnt over the years also indicate that whenever changes are being made, there will always be resistance.
Government has made its agenda to transfer ownership of natural resources from foreign companies to indigenous non-negotiable, which is a sure way forward.
Natural resources by their nature are non-renewable. For centuries, raw materials have been exploited from Africa with no demonstrable improvement to the lot of the majority of Zimbabweans. Well, it is work in progress but it is clear that this will be a foundation stone for future economic growth. Prosperity, which is most likely to benefit from this bold intervention, will be the one who will fully reap the dividends of these reforms.
Now that sanctions are beginning to slacken, with the European Union removing most of the targeted members, Zimbabwe can be able to determine its own future.
But the continued maintenance of sanctions on the Head of State is a stark reminder of the ill-will that the bloc still has on the country.
From 1999 to date, the sanctions have affected the economy greatly.
There has been huge financial outflows and this has impacted on the country’s liquidity. But the Government has continued with its fight.
Recently our President visited China and South Africa to sign deals that have the potential to add fillip to the economy. Russia also showed interest to work with Zimbabwe. Such deals will certainly not materialise overnight and these will be beneficial to the country in the long term.
The self-deprecatory attitude that is being display by many nowadays doesn’t help anyone; it is counterproductive. Zimbabwe has bred some of the finest businessman in the country and needs to continue to do so.
Regardless of our strong human resources asset, we also have our fair share of challenges. Problems are always there to be solved. At 35 years, Zimbabwe is one of the few countries that are marching towards economic independence.
We are now masters of our own resources. As we look ahead, what is now required is to reflect on our mistakes and move forward.
Policies favourable to both Zimbabweans and international investors keen to work with Zimbabwe are urgently required. The darkest hour comes before dawn. At 35, Zimbabwe is now mature enough to know what is wrong and what is right.
Happy birthday Zimbabwe.
◆ Taurai Changwa is an articled accountant and ACCA finalist. He is managing director of SAFIC Consultancy. He writes in his personal capacity and can be contacted at [email protected], on Facebook page SAFIC Consultancy, and WhatsApp number 0772374784
Tinaye Agere
Online Reporter