It’s time to put our heads together

Takunda Mugaga Economic Agenda
The new Cabinet was announced and sworn in within the last 48 hours bringing to an end speculation and days of waiting.
While the men and women appointed to Cabinet have a huge weight on their shoulders, it is equally important for every Zimbabwean to play his or her part to lessen this burden.
The focus now is on rebuilding the economy and it is every Zimbabwean’s responsibility and not just that of the President and his new Cabinet.

The blame game has to be relegated to the dustbin of history and different stakeholders should come together to map the most efficient path for Zimbabwe to recover.

Indeed not everyone will agree on the composition or personalities that are in the new Cabinet, but these are our ministers and we need to work with them and not against them.

We have already set the stage for our turnaround with our successful co-hosting of the United Nations World Tourism Organisation General Assembly in Victoria Falls last month making a bold statement that we are back in business.
Zimbabwe proved to the whole world that it could host a conference of international standards.

This was against the backdrop of denigration and unfair reportage on the threats Zimbabwe was claimed to pose to the visitors.
It is more than a month since Zimbabwe held peaceful elections, followed by the swearing in of legislators and the announcement of the new Cabinet was the last piece of the puzzle.

The political aspects are now complete, focus should now be on the economy.
I believe that the first thing the new ministers should do is engage stakeholders from different walks of life to discuss what will take Zimbabwe forward.

Some stakeholders have already taken up this initiative and have organised a conference with the theme “New Government, New Expectations, New Policies?”

Its major aim is to try to set an economic agenda on what is expected of the new administration in terms of turning around the economy which seems to have reached a plateau in terms of growth.

New Finance Minister Patrick Chinamasa, who introduced the multi-currency regime when he was acting in that portfolio in 2009, should be reminded that the dollarised environment is not permanent and will have to go at some point.

The timing of the exit from dollarisation will, however, depend on how he juggles things in his hot seat.
A host of speakers from different backgrounds are expected to grace the conference.

These include Minister Chinamasa, Youth, Indigenisation and Economic Development Minister Francis Nhema, World Bank economist Nadia Pifarreti, Confederation of Zimbabwe Industries president Mr Charles Msipa, ZNCC vice president Mr Davison Norupiri and economist Mr John Robertson.

It was important to have the different speakers who also seem to see things differently as we believe the new Government deserves different views and opinions for it to produce optimal results.

This is the platform for Zimbabweans to contribute what they believe is significant in order to promote entrepreneurship, job creation, foreign direct investment, re-engagement with the Bretton Woods institutions and best funding models for industry and agriculture.
It is also an opportunity for them to discuss whether the financial services sector requires restructuring considering the disappointing liquidity ratios for most banks as well as the heavily undercapitalised state of the apex bank.

This is a conference that other newly elected legislators, not just ministers, must attend as matters of development and decision-making are expected to be tabled for debate.

Traditionally, lawmakers have alienated themselves from business events expecting the electorate to discuss such matters on their behalf.
It is time for the newly elected legislators from the political divide to come and influence policy setting through their contributions bearing in mind that it’s not cheap politicking which will move the nation forward.

With a new Cabinet now in place the public is more concerned about how the new Government will spear-head the indigenisation policy, how to extricate the disappointing ranking of local banks by World Bank ratings, policies on trade and customs.

There should also be discussion on what new and modern ways of exploiting mineral resources need to be adopted and means of attracting investment in infrastructure development, which is a vital cog for economic growth and development.

This is the hour Zimbabwe cannot afford to remain in the election mood regardless of the grieving parties’ position knowing fully well that legislators have been sworn in from across the political divide, which is evidence of a Government taking shape.

The issue of questioning the legitimacy of the Zanu- PF dominated Government should now end.
The new administration has already received overwhelming endorsement from both within the region and overseas judging by the number congratulatory messages that poured in following the harmonised elections and that should be final.

Thank you and God bless you.

Christopher Takunda Mugaga is the Head of Research for Econometer Global Capital, a regional finance and economics research firm. He can be contacted on: [email protected] or +263 772 340 353 / +263 776 266 062.