WATCH: Economic stability, ZiG reforms put Zimbabwe on growth path

ZIMBABWE is firmly on the path to prosperity, riding on improved economic growth, stability and currency reforms being realised under the Second Republic, prominent business leader Dr James Rose Goddard has said.

The founder and director of J R Goddard Contracting (Private) Limited Dr Goddard, told delegates during a state of the economy and outlook engagement in Bulawayo on Thursday that the economic transformation witnessed since the advent of President Mnangagwa’s administration marks the most progressive period of his professional life, citing stability, low inflation and the operationalisation of the ZiG currency as key milestones.
“You know, I have been in business since 1982, and during those years, if there is one thing that we have managed to do, it is to survive.
“The commencement of President Mnangagwa’s second government, and from 2017 to now, for me, I think it has been the greatest period of my working life.
“It is during this period that things have undeniably got better,” he said.

Dr Goddard said Zimbabwe had entered a new era of economic stability, a development that has significantly improved the operating environment for businesses.
“And so, you know, the first thing I would like to say is, we have economic stability,” he said.

He added, “There is no disputing that.”

He said the stability had eliminated the uncertainty that previously characterised contracts and business planning, particularly during periods of high inflation.
“You know, in the history of the prior to 2020, you negotiated a contract; the most important part of the contract that you must negotiate is the escalation formula.
“You were calculating escalations every month, and there was an escalation factor which was applied to your measurement, and if you did not get that escalation factor right, you could have a negative paying contract.”

Dr Goddard said inflation volatility, once a dominant business risk, had now largely faded.
“Escalation now is something that is forgotten, literally it is, because it is not a factor.
“We have got stability. I would not ever dispute the fact that our inflation is single-digit now. It is amazing.”

He also expressed confidence in the ZiG currency, describing it as a functional and reliable medium of exchange in day-to-day business operations.
“The second thing I would like to also just confirm is, you know, the ZIG, this is a real currency.
“You know, we have had many currencies over the last 30 years, but the ZIG is working.
“You know, the proof is in the pudding.

It is stable and it is a genuine tool in our day-to-day operations.”

Dr Goddard said the prevailing environment presents strong prospects for continued growth and national development.
“Zimbabwe is a good country, I pity those who left the country.”