Economists, analysts hail President

Felex Share Herald Reporter
Economists and political analysts have hailed President Mugabe for taking a bold stance on corruption, saying zero tolerance to the scourge will result in increased investor confidence and economic growth. The analysts also commended the President for declaring that heads of parastatals and local authorities would be obliged to sign performance appraisals as a way of engendering accountability and ensuring efficient service delivery to the public.

Officially opening the First Session of the Eighth Parliament in Harare on Tuesday, President Mugabe warned Government officials to desist from corruption saying structures to combat the scourge would be strengthened while anti-corruption commissioners would be required to declare their personal assets.

Economist Mr Brains Muchemwa yesterday said corruption retarded economic growth and should be dealt with decisively.
“Corruption is a scourge that administers punitive taxation on transactions, investment and therefore economic growth,” he said.

“The message from President Mugabe to deal decisively with corruption is most welcome and sets the right tone for the future. Unless decisive action is taken, Zimbabwe will continue to be viewed in bad light not only by foreign investors and even local investors that will continue to face artificially constructed bureaucratic impediments meant to milk them.”

Mr Muchemwa said the move to make heads of parastatals adopt a results-based management approach would lead to economic recovery and growth.

“For a long time, shareholder activism has not been visible in the public and private sector and as such the chief executives, boards and senior management of private companies and parastatals have developed a thick skin of complacency that has, over the years, been breeding inefficiencies and larger-than-life characters that are not accountable to anyone other than themselves,” he said.

“The move to have performance contracts should not only be limited to the public sector, but should also be embraced by shareholders of private sector and listed companies so that management is accountable and serve the interests of the shareholders.”

Mr Muchemwa added: “The arrogance among executives and the culture of not being accountable is alarming to the extent that even bankers that are supposed to revere depositors funds end up misleading regulators and abuse public trust so recklessly to the extent that the robbed bank ends up being liquidated or put under curatorship.”

Bindura University of Science Education lecturer Mr Bowden Mbanje said President Mugabe’s statements showed that the new Zanu-PF Government meant business.

“This shows good governance and the message will act as a deterrent to all those who wanted to partake in graft, which destroys the fabric of the economy,” he said.

“President Mugabe is ready to deal with anyone without fear and favour and coupled with the good performance of our parastatals, we are going to have an economic boom soon.”

Zimbabwe Union of Democrats founder Ms Margaret Dongo said that the statements showed that President Mugabe was serious about corruption.

“Corruption had destroyed the country with many companies becoming hesitant to come and invest in Zimbabwe and we suggest that committees to investigate it in all sectors like mining and agriculture be set up,” she said.

“I am happy about President Mugabe’s approach and there is no doubt there will be tremendous economic growth. He is a no nonsense person and is taking a leading role in weeding out all corrupt elements. Investor confidence will increase as investors know that they will be protected.”

President Mugabe indicated that structures to combat corruption would be bolstered through the establishment of the National Prosecuting Authority as prescribed in the new constitution.

The independent body is set to take over the functions previously performed by the Criminal Division of the Attorney General’s Office.
Midlands State University lecturer Dr Nhamo Mhiripiri said sentiments by President Mugabe showed that there was political will in terms of corruption eradication.

“The words are coming from the chief executive officer of the country and it shows that there are no sacred cows on the issue,” he said.
“This (corruption) is a pandemic that should be cleared in our lives and let the prosecuting authorities show that no one is immune to prosecution. Whistleblowers should come forward and expose all those in corrupt activities but this should be done in an honest way, not to maliciously damage people’s reputation to score cheap political goals.”