adminNgoni Dapira
THE baseline for economic growth in Zimbabwe and Africa at large should be centred on indigenous empowerment initiatives, a business analyst has said.Speaking on the sidelines of the belated Zimbabwe Union of Journalists Manicaland World Press Freedom commemorations, Mrs Letina Undenge, said the indigenisation drive would be a pacesetter throughout the African continent on how best African countries can steer economic growth.
She said Zimbabwe was an awakening economic giant and the future looks bright especially with the economic blueprint the Zimbabwe Agenda for Socio-Economic Transformation.
“Like with any ground-breaking revolutionary policy there are always complexities in the process and that is what Zimbabwe is going through after indigenising.
“The holistic outcome, however, will be a pacesetter for Africa because it is only through economic sovereignty that Africa can grow to become an economic giant and move from being a begging nation,” said Mrs Undenge who is the director of a leading gambling venture, Star Lotto.
Mrs Undenge said beneficiation and value addition was key for the country’s industrial growth and employment creation.
“Among the many operations which could contribute to a substantive recovery and growth of Zimbabwe’s presently fragile economy will be value-addition to many of the country’s high quality primary products.
“We should also embrace the Buy Zimbabwe campaign. If we embrace this campaign as a nation from the public and private sector to consumers then I see Zimbabwe being the Switzerland of Africa,” she said.
She, however, underscored that the country’s import syndrome should be dealt with decisively by both Government and the private sector.
According to the latest trade data from the Zimbabwe National Statistics Agency, the country’s import bill continues to rise with the country spending $1,6 billion on imports in the first three months of the year.
It is disheartening that some of the imported goods that are gobbling millions of dollars are being produced locally at competitive prices.
Disposable napkins were valued at $8 million in the first quarter.
Sanitary wear products and other toiletries accounted for more than $3,5 million in the first quarter.
Processed foods dominated the imports, but other products such as fish, eggs and fresh produce also contributed to the high import bill.
Imported ceramic tiles accounted for $6,4 million, freezers and electrical gadgets valued at $16 million were imported while carbonated soft drinks accounted for $4,2 million.
The ZIMSTAT statistics revealed that the volume of imports for the duration under review was $1,6 billion whilst the nation exported goods worth US$716,6 million.
Mrs Undenge said through the Zim-Asset drive on value addition local indigenous companies should scramble for opportunities to manufacture the imported goods.
She, however, implored on Government to tighten procurement laws through a 50 percent Buy Zimbabwe policy to ensure that tenders are awarded to local firms.
“We cannot import basic produce like eggs, fish, tomatoes that are readily available locally.
“The import of basic kitchen utensils and hardware is gobbling millions of dollars.
“We also continue to import clothing and textile products, sending out of the country millions of dollars while our textile industry is down with cotton farmers being stranded failing to secure markets.
“These are fundamentals we should address as a nation if we want to spur economic growth,” said Mrs Undenge.
Online Reporter