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Freeman Razemba Senior Reporter
Zimbabwe is moving away from an allocation economy where every businessperson and individual queued at the Reserve Bank of Zimbabwe (RBZ) to access funds for their businesses, a Cabinet minister has said.
Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said in the Second Republic, the private sector should source foreign currency and not expect support from the RBZ.
She said this while addressing local editors from various stables in Harare yesterday.
“The Second Republic is moving away from an allocation economy where every businessman goes to the RBZ,” she said.
“We really have to move away from that. If you ask a lot of businesspeople in this country how they raised their capital, they start telling you that I put a proposal to the Governor and not many of them have visited the cities where monies can be raised. I think we are moving away from that.”
Minister Mutsvangwa said the source of capital in the country was $4 billion when there were trillions out there.
She said Government achieved a lot in a short space of time, with notable progress in infrastructure development, particularly road rehabilitation and expansion.
Further, significant investment has been attracted, with many existing companies being revitalised and new firms opened.
Minister Mutsvangwa said under President Mnangagwa’s leadership, the Second Republic was pushing for the attainment of Vision 2030 that aims to turn the country into an upper middle income economy.
“The effort towards attaining this vision was triggered by the adoption and implementation of a two-year Transitional Stabilisation Programme that is underpinned by the mantra ‘Zimbabwe is Open for Business’, a policy of re-engagement with willing nations in the international community, a drive for investment and putting in place an enabling infrastructure,” she said.
“As repeatedly pointed out by His Excellency the President, the going is not going to be a walk in the park as there are many national issues that need to be corrected. However, the nation has achieved a lot in the short-term.
“The country has made notable progress in infrastructure development, including road rehabilitation and expansion. Notable achievement has also been realised in our drive for investment with many companies existing and new (ones) being revitalised and opened.”
Minister Mutsvangwa said infrastructure development was being enabled by domestic resource mobilisation.
Deputy Minister of Information, Publicity and Broadcasting Services Energy Mutodi, Secretary Mr Nick Mangwana and other senior Government officials attended the meeting.
Peter Tanyanyiwa
Online Reporter