More help for black ventures

The Herald, September 30, 1980

THE Deputy Minister of Commerce and Industry Mr Moses Mvenge, yesterday pleaded for greater participation by black businessmen in the country’s growing economy.

Pledging increased Government assistance to black entrepreneurs, especially those in the rural areas, Mr Mvenge told the Gatooma Chamber of Commerce annual meeting that these men in turn, needed urgently to improve their efficiency, Iana reports.

The Government’s plans to help finance emergent businessmen, coupled to its massive programme of reconstruction and rural development, would give rise to “practically unlimited opportunities for African businessmen,” he said.

Mr Mvenge also called for “a more important role” for Africans in Zimbabwe’s existing enterprises, saying the present “imbalance” could be quickly rectified with the co-operation of the private sector.

“A considerable expansion in African participation in the business sector of the economy will be of enormous benefit to all businessmen,” he said. 

But, he warned businessmen who benefited from the Government’s development programme to avoid profiteering.

The Government’s financial resources were inadequate, he said, adding: “I am convinced that huge amounts of private investment and external aid are also essential.”

LESSONS FOR TODAY 

 The attainment of independence was not a flag-waving event, but the new Government saw the urgency of creating a new breed of entrepreneur from the majority that had been side-lined by the minority white Government.

 Over the years, Government together with business and the people have created an enabling environment that ensures that black people are active participants in business and ensures that they owned the means of production. However, more still needs to be done.

 The Affirmative Action Group was one of the major channels used to bring more black people into business at various levels. 

Over the years, a legal framework was put in place through the enactment of the Indigesination, Economic Empowerment Act, that was updated early this year. The Act aims “to provide for support measures for the further indigesination of the economy; to provide for support measures for the economic empowerment of indigenous Zimbabweans; to provide for the establishment of the National Indigenisation and Economic Empowerment Board…”

The agriculture, mining, tourism and telecommunications sectors  have seen a large number of indigenous people going into business and being extremely successful like billionaire Strive Masiyiwa.

While the First Republic concentrated on the full inclusion of the majority into business, the Second Republic has carried on, ensuring that even women and the youths become very active participants in economic activities through their entrepreneurial skills. However, in order for all to participate, large capital injections must be made,  and access to viable markets should be uppermost during the strategising stage.