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Minister Bimha

Victoria Ruzvidzo Business Focus—

It is now less than 48 hours to go before 2016 paves way for 2017. This obviously not being just a game of numbers but one that should usher in a new dispensation and a new way of doing things.By any measure, 2016 has been a challenging year. One that saw the economy sliding further as most sectors succumbed to challenges that befell them. Companies and individuals alike had to summon their creativity and innovation to remain afloat while those that could not, fell by the wayside.

It has been a year that has seen this country very close to being put under curatorship but we must salute those that saw opportunities and seized them to help the country as the economy tinkered on the brink of collapse.

We shall certainly not pretend that all was well for individuals and companies alike nor shall we magnify the challenges and make them much more gigantic than they really were. The truth though is that it has been survival of the fittest.

We all agree it has been a case of thinking outside the box or even far away from the box to get some cylinders firing. We began the year on an optimistic note despite the tough remnants of 2015.

However, a few months down the line, things began to slide as the liquidity crunch bit more painfully while businesses failed to recapitalise or fend off growing competition from imports.

It became harder to put a well balanced meal on the table while companies revised remuneration packages to remain afloat. This had a negative bearing on the pocket and families had to adjust. Many had to transfer their children to less expensive schools while others had to reduce the number of meals per day and the amount of food consumed.

Government also found it challenging to pay civil servants on time and for the first time in decades, it became headline news each time the lot got their salaries. We all took it in our stride. Not that we had much choice.

But we thank God that the year is almost over and we still remain standing. Zimbabweans are a resilient lot. We always find means of survival and get on with life.

However, the last few months have seen the introduction of such policies as the Statutory Instrument 64 that has put a limit on imports. This move, though heavily criticised initially for protecting mediocrity and chalking cross-border traders, has turned out as a blessing with firms in the manufacturing sector reporting increased capacity utilisation to about 45 percent from an average 34,3.

At least $600 million has been invested in industrial production as firms warm up to the new dispensation.

Industry Minister Mike Bimha has promised more measures to boost production.

“We believe as we go into 2017 we will again reap more success stories from these measures.

“We are also coming up with other measures to support, buttress and reinforce SI64. Those companies that have been supported by SI64, we are giving them room to retool. We are saying there is money, there is funding to assist in the retooling,” he said.

We will certainly hold the minister to account. He normally does not disappoint but its about time periodic audits were introduced so that ministers and other partakers in the economy are held to account.

It’s a subject for another day though.

Furthermore, sustained efforts to improve the ease of doing business are expected to bring more foreign investors while the restoration of normal relations between Zimbabwe and the International Monetary Fund could see other multilateral and bi-lateral lenders taking an interest in this country yet again.

These factors could combine to put Zimbabwe in better stead next year.

However, self-introspection is critical as we move into 2017. We have many already predicting doom for this country while others posit the things are going to be more difficult.

Others feel the Government is bound to give more attention to the 2018 elections at the expense of the economy. These fears are understandable. The period before elections is usually characterised by serious campaigns as parties and candidates position themselves to win the right to govern.

However, it would be a sad day for our country if all this is done at the expense of the economy. It is common knowledge that the economy is in a precarious position and will need all the attention in can get to revive it.

Indeed working hard towards rebuilding the economy would certainly be a campaign thrust because there is so much dissent and disharmony emanating from the challenges many people are having to fend off by all means.

Therefore, getting the economy right would certainly endear the electorate to the powers that be. It’s always a bread and butter issue, even in the literal sense.

The onus is also on us as individuals and institutions alike to assess the way we did things in 2016 and identify loopholes and areas were we could have done better.

The economy is a sum-total of what we all do hence if we start right at individual and household levels, we can help turn the tide and reap good results for the economy.

Of course issues like corruption can then be minimised.

The vice cost this country at least $1 billion every year and this is no small change. It’s at individual level where we decide to do things right and this cascades to all levels.

Zimbabwe needs to channel every dollar towards development so that its citizenry is empowered to make decision and lead a better life.

Development practitioners argue that such practices as corruption have deprived countries and continents of progress hence poverty levels continue to rise.

It is within our sphere to decide to leave the retrogressive traits and abandon measures that will bring a better economy in which we all prosper.

Zimbabwe is strategically positioned as a potential regional powerhouse and should use its geographical position and all advantages such as natural resource endowments and a rich human skills base to upgrade its economy.

2017 could turn out to be a great year if we put all our hands on deck. No winter lasts forever.

In God I trust!

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