GreenCard investment: The way to go for Zim

entrepreneurial acumen among its people, with many venturing into territories that were previously a preserve of a few.
These include banking and financial services, real estate, farming (in its true sense) mining, construction and security services, among others.
However, the past few years have seen an erosion of the entrepreneurial culture as the dealer mentality and the get-rich-quickly virus hit the country at an alarming pace.
The economy was badly hurt in the process.
But as I witnessed the launch of a new medical aid entity – GreenCard Medical Aid Society – in Harare last Friday, I was pleasantly reawakened to the fact that in our midst we have Zimbabweans who have decided to invest huge amounts of money into projects that elevate our nation, literally breathing life where death was almost imminent.
It is no secret that the health sector has suffered immensely over the past few years, with public health institutions almost on their knees at some point while many Zimbabweans have not had access to private healthcare.
Most of these could not afford to join medical aid societies except for those with such schemes in-house.
Of course it is there for all to see that things are looking up and GreenCard has joined in at a time when health services have become quite expensive and many could use an affordable and reliable scheme that ensures due attention is given as and when someone falls sick.
Such investments as GreenCard are exactly what the doctor ordered (pun intended).
Some patients and doctors have cried foul over the treatment they are getting from some medical aid schemes, which in most instances charge highly exorbitant monthly premiums while taking too long to settle bills to medical service providers, a concern that came out clearly at the launch ceremony.
Therefore, an increased number of medical aid societies will give Zimbabweans more choice while inducing the kind of competition that will see the customer emerging the winner at the end of the day.
Many patients and doctors have had a raw deal with some medical aid societies and we thus welcome the new entrant that has promised better service thus indirectly forcing other such schemes to buck up.
GreenCard has said that its monthly rates cater for all social clusters and has promised to be friends with doctors and other medical service providers through reducing the settlement period to as low as seven days from the current 60 days that other schemes are taking.
This is as it should be, coming at a time when the environment demands efficient and effective business systems to fend of global and domestic economic challenges.
Investment in the health sector will not only build towards a healthy nation but one that will produce a highly productive labourforce.
Presently many have opted to invest in the retail sector, thus compromising the economy’s ability to create more jobs.
But such investments as GreenCard will ensure the creation of employment both directly and indirectly.
Although we are not privy to the funds that have so far been injected into the scheme or the employment levels, it is quite clear that the health insurance will make a significant impact on the economy.
Employment statistics indicate high unemployment levels hence Zimbabwe needs to encourage projects that will create more jobs to enhance the standard of living.
Domestic investment has largely been constrained due to lack of resources but Greencard has shown the way, that while it is difficult to invest in such an environment, it can still be done if one fully applies their mind to it.
It is, therefore, critical that we increase domestic investment as a strategy to help create more jobs and generate wealth.
Of course we have identified foreign direct investment as a pillar for sustainable economic growth but we need not lose sight of the importance of domestic investment.
Foreign investors often take a cue from locals hence the importance for local companies and individuals to pour their money into the local economy.
That show of confidence will be read well by external investors.
Besides, it is generally agreed that homegrown solutions are critical to take the economy forward.
We applaud GreenCard for this and urge other investors to seize the abundant opportunities resident in all sectors of the economy.
Of course we say this without turning a blind eye to the challenges that currently constrain business growth and expansion.
Liquidity constraints, power challenges and a plethora of challenges still stand in the way of business growth.
These need urgent attention as said repeatedly but there are opportunities which should be seized even under the challenging environment.
LINES OF CREDIT
We also applaud the PTA bank for making available US$106 million to be advanced to the private sector, coming as it does on the heels of the signing of the Zimbabwe Botswana Bilateral Investment Promotion and Protection Agreement that has seen the immediate release of 70 million Pula.
Furthermore, a US$15 million facility for small businesses from the Arab Bank for Economic Development is more than welcome.
All these deals will combine to improve liquidity while giving impetus to economic growth efforts.
The economy needs such kind of capital injections to stave off challenges that threaten growth.
The Chinese have also weighed in with loan deals worth US$700 million that will have a phenomenal effect on the economy.
We applaud China for its continued contribution to the welfare of this country.
More is expected to come Zimbabwe’s way as the year progresses.
Who said the US$100 billion dollar economy was an elusive dream?
In God I Trust!
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