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Victoria Ruzvidzo  : Business focus

THE world is now a global village and the physical boundaries that separate countries and continents are fast disappearing, with the advent of technology and other initiatives that have brought countries closer together.Zimbabwe can, therefore, not afford to be an island but can only benefit from being active in the global space.A few weeks ago I attended the World Economic Forum on Africa in Kigali, Rwanda, where more than 1 200 delegates from the continent and across the world gathered to share ideas, experiences and strategies to take Africa to the next level but Zimbabwe was not well represented there.

This was a high level meeting where governments, development partners, the private sector, civil society, the academia and media were represented at high levels but for Zimbabwe there was no Government Minister, hardly any business executive, the academia and other stakeholders, with only CBZ Holdings Head Group Marketing and Corporate Affairs Dr Eldrette Shereni and from the media it was myself and a few others based in Kenya and Zambia. Finance Minister Chinamasa had been billed to attend but he failed to make it.

And yet these are critical platforms that can help Zimbabwe achieve its aspirations and be up to speed with what is trending globally. The economy is at a place where it must take full advantage of every available opportunity to progress and the WEF meeting was one such event.

For many years, Zimbabwe has not given much weight to the forum meetings but at least one or two ministers attend and a sprinkle of private sector representatives are also usually there but at this year’s edition there was none such. I met a few Zimbabweans though from the United States but they were not on Zimbabwean business.

Mind you this was not a “Micky Mouse” gathering which one could simply dismiss and say Zimbabwe did not need to attend; the World Economic Forum is one of the most critical meetings on the continent’s calendar, held annually to take stock of socio-economic progress on the continent and map the way forward. It is not a mere talk shop but one from which tangible results emanate. Bilateral meetings are also held on the sidelines with potential investors who are usually ready to pour in lots of money in a project if adequately convinced.

This is a platform that Zimbabwe needed to tell and sell its story to peers on the continent and to external partners who could help with funding, technology, expertise, referrals and many benefits that accrue from such meetings. The Zimbabwe Agenda for Sustainable Socio-Economic Transformation is one strategy that could find currency if laid before the meeting of the Who’s Who of this continent and the world at large.

Zimbabwe has always been a target of clear vilification and faulty perception. It is common knowledge that perception manifests itself in transaction thereof. Therefore, WEF provides invaluable, if not incomparable opportunity to project the correct perceptions with conceiv0able benefits in investment, tourism, trade and a whole host of other areas.

Indeed no such opportunity to brand Zimbabwe and to correct misconceptions abound on the global market should be wasted as the country seeks to realise the potential it has as a major powerhouse.

A presence there also ensures the country remains relevant and on the development agenda.

Zimbabwe’s widening trade deficit of about $2,5 billion demands that the country increases its exports and become more competitive on the international market. This comes from the application of new technology and more efficient production systems, which can largely be sourced from external partners, hence the need to attend such meetings where information on these will be in abundance.

Although the country’s exports have grown to average $3,6 billion over the past five years, from an average $1,7 million between 1990 and 2009, the economy needs to grow its exports and ensure value addition as opposed to exporting primary products. This can only be achieved through active engagement with potential partners and investors on the global stage.

All efforts by Government, business and other social partners in this country find full expression in the context of global events hence the need for the country’s presence at such meetings. Increased trade, tourism, investment come from networking.

Therefore, Zimbabwe should aggressively seek a slot at the WEF and other fora where it markets itself and ensures it benefits from any programmes meant for the continent. The presence of the African Development Bank, the World Bank, the International Monetary Fund, the Food and Agricultural Organisation and key investors such as Aliko Dangote also create opportunities for formal and informal engagements that could yield better results for this economy.

Furthermore, Zimbabwe needs to claim a fair share of such projects as the African Development Bank’s Youth Empowerment initiative and the 10-year Energy Projects which were highlighted at the WEF.

This year’s theme at the WEF was Connecting Africa’s Resources through Digital Transformation where intense discussion, termed the Fourth Industrialisation. Zimbabwe finds itself confronted by a myriad challenges that have constricted economic growth and sustainable development hence the need to be more involved in global affairs where opportunities, networks, trends and markets become apparent. We cannot be too broke to be represented at such fora as the WEF.

There is no way we can use opportunities optimally when we are absent as was the case in Kigali.

Global shocks such as a drop in commodity prices, the financial crisis and others impact on Zimbabwe as experience has shown, while conversely, any positive development will benefit the country hence the need to be up to speed with developments through strategies such as maintaining a presence at the World Economic Forum on Africa and other such meetings.

We sincerely hope that such organisations as the National Economic Consultative Forum and the Tripartite Negotiation Forum where Government, business and labour meet, actively pursue and ensure Zimbabwe is adequately represented.

In God I trust!

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