Poll outcome key to growth

Government and introduction of multi-currencies, Zimbabwe has enjoyed strong economic growth, but the robust recovery achieved between 2009 and 2011 slowed down last year, mainly due to policy divergence as a result of the coalition nature of the Government.

Mr Msipa said the next Government should immediately deal with challenges besetting the economy, including addressing capital constraints and adoption of policies that foster growth and create employment.

“Assuming that we have an undisputed election, the country will have an opportunity to come up with policies that will put the country on a right growth trajectory,” said Mr Msipa in an interview.

“We need the elected Government to come up with right policies that generate jobs and boost the economy.”
The election blueprints for Zimbabwe’s two main political parties, Zanu-PF and MDC-T, are focusing on job creation. Zanu-PF intends to generate 2,2 million new jobs in 14 sectors of the economy over the next five years, which significantly dwarfs the MDC-T’s one million jobs by 2018.

Zanu-PF seeks to create 1,4 million jobs in the first year and progressively increase the numbers to 1,5 million in the second year, 1,6 million in the third year, 1,9 million in the fourth year and 2,2 million in year five. The jobs would not only be spread across the main sectors — mining, agriculture, manufacturing and tourism — but also social sectors of health and education and sub-sectors of finance, public services, transport, communication, water, electricity and construction.

A staggering US$7,3 billion worth of equity, including through creation of employee share ownership schemes, would go to indigenous Zimbabweans through transfer of 51 percent shareholding from foreign-owned firms to indigenous people creating a basis to leverage other opportunities.

MDC-T manifesto’s job creation is hinged on anticipated Foreign Direct Investment from the West although their financial markets are yet to recover from the effects of the global financial crisis.