admin“A lot of issues need to be looked at; for example legacy issues to do with demonetisation of the Zimbabwean dollar which saw some companies going down.
“The banking sector is the crucial sector to business people hence the sector needs to be seriously looked at for improved service and security of investment,” he said.
He added that there was a need for a good corporate culture and corporate governance mainly in the state enterprise sector.
“A strong and sound corporate governance system is vital for the success of any business, be it private or public company.
“An organisation must be well managed and well co-ordinated in order to attract customers and investment because investors and customers need security for their money.”
Mr Mafukidze noted that a number of companies were losing potential opportunities and chances of existence due to poor governance.
“Success of a business depends on how it is run and the way a business is managed is capable of attracting or chasing investors.”
He said creating policy consistency and predictability was beneficial as it was a major determinant of success in attracting foreign direct investment.
“At the moment the country is in great need of foreign investment for economic growth and this can only be achieved if investors feel safe through comfortable investment and political stability,” he said.
He encouraged resource mobilisation projects through incentivising the saving public to return to formal sector banking by offering good interest returns and deposit guarantees.
“There is also a need to eliminate corruption and engender transparency in the economy in general because corruption is an enemy to growth and it destroys progress,” he said.
Online Reporter