President confronts big-spending defaulters

President Mugabe lighting the flame of independence. (pic by Kudakwashe Hunda)
President Mugabe lighting the flame of independence. (pic by Kudakwashe Hunda)

Sunday Mail Reporters
President Mugabe has castigated Zimbabwean business people who are in the habit of defaulting on their debt obligations saying the culture is detrimental to the country’s economy.
In his keynote address during the 34th Independence anniversary celebrations at the National Sports Stadium in Harare on Friday, the President urged small and medium businesses to oil their operations through various loan facilities availed by Government. However, he insisted that the business people need to repay the loans.

“If you need funds, talk to the windows we created for you in your particular area, especially the small and medium enterprises,” said President Mugabe.

“They are part of the mechanisms which add to the overall system of funding. “But do not be a good borrower and a bad, bad debtor. A good borrower who is also a good debtor will repay the money.

“Kwete kuzoti watora chikwereti wakuvingwa wakunotora demo sezvinoita vamwe.

“Woti shamwari ahh ndirikukupawo uvake chirugwi mangwana wozondipawo, mangwana acho okupindukira, oburitsa banga wondibaya naro.

“Hatidi, hatidi vanhu vakadaro.

“Tinoda vanhu vaneruzivo rwekuti iwe wakapihwa chisi chako chikava chako, nhasi chako chichipawo udzorere munhu uya akakupa chikwereti.

“Hamudi kudzoreera zvikwereti zvevanhu pamusana peyi?

“Ah that’s not good. There is a moral issue there, to pay back what you have borrowed.

“Even dzidziso dzadzidziswa kuvana vedu, the teachings of Mao Tse Tung vakati dzoserai pamunenge matora, matorera kuvanhu kune vanhu mukufamba kwenyu, macomrades iwayo ataiudza. Iyi ndotsika inofanira kuitwa.”

President Mugabe said through the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim Asset), economic blue print Government intends to provide, simultaneously, an enabling investment climate, a growing economy and an empowered society.

He said every Zimbabwean has a role to play in the implementation of Zim Asset.

The President added that the country should seek to export more in order to address the liquidity crunch that has been affecting the economy.

“Zimbabwe’s manufacturing sector continues to experience various challenges, chief among them being the liquidity crunch and the widening trade deficit.

“The country is also experiencing a rapid de-industrialisation process, which is a clear sign of unhealthy financial situation.

“The country’s trade balance shows that we are importing more goods and services than we are exporting.

Government should work actively to promote the export of value-added commodities, but at the same time discourage the importation of goods that are readily available on the local markets. This should, hopefully, reduce the trade imbalance.”

 

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