Thumbs-up for Zanu-PF

Business Reporter
ZIMBABWEANS voted for a party which they believe can transform the economy as the country transitions from a coalition Government, analysts and business leaders have said. President Mugabe won 61 percent of the vote, against former Prime Minister Morgan Tsvangirai’s 33,94 percent. Zanu-PF also won 160 parliamentary seats compared to MDC-T’s 49 seats. The remaining seat out of the 210 was won by an independent candidate.
Mr Gift Mugano, an economist based in South Africa, said the people of Zimbabwe had over the last decade witnessed the benefits from Zanu-PF particularly from the land reform and indigenisation programmes.

“The country was governed by the three main political parties over the past three years and I think that gave people enough opportunity to assess their respective performances.

“In my view, the people’s assessment has been reflected by the poll results,” said Mr Mugano. “With Zanu-PF, we may see transformation of the economy because I do not see any reversal of these policies.”

Mr Mugano, who is also an economics lecturer at the Port Elizabeth Metropolitan University, however, said the new Government should delay the re-introduction of the local currency until the country has built enough foreign exchange reserves.

Analysts also noted Zimbabwe may remain under Western sanctions, judging from the sentiments expressed by the US and UK, suggesting the poll was fraught with irregularities. They said although the restrictive measures may bring about certain pressures and limitations, Zimbabwe needed to be self-reliant to circumvent the effects of the illegal sanctions.

“Zimbabwe should be self-reliant to nullify these sanctions,” said economic analyst Mr Jonathan Kadzura in a telephone interview yesterday.
“We have to use our God-given resources to finance key economic sectors such as agriculture, infrastructure as well as revamping health and education facilities. If these things are done quickly, the economy will be able to generate employment. I think these illegal sanctions (if they remain in place) should motivate Zimbabweans to work harder.”

Mr Kadzura said key issues the next Government had to tackle included addressing liquidity shortages, speedy revival of strategic institutions such as NewZim Steel, revamping health and education facilities and proper accounting of national revenues.

Confederation of Zimbabwe Industries president Charles Msipa said the industry lobby group was prepared to work with the new Government to create an enabling and sustainable environment for economic growth and development.

“Zanu-PF has been a part of Government for the last 33 years – including the past four years in an inclusive Government and won the majority of seats in the July 31 election,” said Mr Msipa.

“We look forward to engaging with the new Government once constituted and providing industry input on measures required to sustain economic growth and progress in manufacturing as well as agricultural sectors.”

As industry, we also look forward to engage the new Government and provide our input on measures to stimulate economic growth, wealth and employment creation as well as attracting capital inflows into the country to address capital requirements in priority sectors, including infrastructure, agriculture and manufacturing sector.

Zimbabwe National Chamber of Commerce president Mr Hlanganiso Matangaidze said: “We are happy that we had a peaceful election and going forward we are now hoping that the new Government will address challenges that we have already talked about.”