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Herald Reporter
President Mnangagwa headlines an economic and financial indaba in Harare on Thursday, which is set to deliberate on solutions to the country’s economic challenges, including foreign currency shortages and erratic power supplies. The conference is being organised by Global Renaissance Investments (GRI).

GRI chief executive Mr Ngoni Dzirutwe said Zimbabweans should come together and deliberate on a way forward and turnaround the economy.

“. . . we all need to join hands as Zimbabweans and propagate homegrown solutions to revive our economy.

“While it is important for the country to re-engage with the international community and follow prescriptions of the International Monetary Fund (IMF), it is equally important that captains of industry, the academia, politicians, non-governmental organisations and entrepreneurs should provide local solutions,” he said.

The indaba will run under the theme, “Driving towards 2020, economy anchored on production and export”.

Government envisions an upper middle income economy by 2030, with the growth driven by agriculture, mining, manufacturing and tourism among other economic sectors.

Mr Dzirutwe said the indaba will also seek to explore ways that Zimbabwe can pursue to derive maximum benefit from the agriculture sector, which has for long been the backbone of the economy.

“The current economic challenges we are experiencing are as a result of reduced production levels, hence the need for farmers and industrialists to ramp up production and target the export markets.

“We can learn from various countries such as Canada, which also experienced what we are going through between 1993 and 1996, but grew its economy through austerity measures and an export-driven economic growth.

“The private sector played a key role in bringing economic stability in Canada, hence it is crucial for our Government to create a conducive operating environment for business and guarantee tax incentives where possible,” he said.

The indaba will also be an opportunity for businesses to exchange ideas on what can be done to address power and forex shortages and tax issues.

Speakers expected at the event include Mr Tan Tsiu Yinn from Malaysia, Confederation of Zimbabwe Industries (CZI) president Mr Henry Ruzvidzo, Zimbabwe National Chamber of Commerce (ZNCC) chief executive Mr Takunda Mugaga, Zimbabwe Farmers Union executive director Mr Paul Zakariya and Dr Shingi Munyeza, a businessman and member of the Presidential Advisory Council.