The era of moving mountains

Clemence Machadu
Insight
Howdy folks! As Zimbabwe enters a new era with the coming in of a new leadership in Zanu-PF and Government, the expectation for progressive reforms and positive changes that enhance quality of lives has been rekindled in the hearts and minds of many.

The euphoria is like that of 1980 as folks welcome the coronation of new President Emmerson Mnangagwa.

Over the past six years, the economy has been sinking with the passage of every year, with GDP slackening from double digit growth of 11,9 percent in 2011 to a paltry 0,6 percent last year — the lowest since dollarisation.

Obviously, this was not good on the part of Zanu-PF as a ruling party which has been entrusted by the electorate with the mandate to lead and deliver sustainable socio-economic transformation to the populace.

The seeds of confusion had been planted in the party, leaving it occupied with differences, a departure from its sacrosanct virtues of “unity, peace and development”.

This departure saw less attention being paid to the economy, much to the dwindling of people’s welfare.

Folks, the date was April 17, 1980, the eve of our Independence, when Prime Minister Robert Mugabe said, “May I assure you that my Government is determined to bring about meaningful change to the lives of the majority of the people in the country.

“But I must ask you to be patient and allow my Government time to organise programmes that will effectively yield that change.”

While that change has been realised in some respects, it has been long in coming in others and the expectation now is that with this new consciousness that has been lit within us, rapid economic transformation will be top of the agenda.

It is time for people’s patience to be rewarded. This is the season of transformation, folks. This is the time to beat the odds. This is the era of moving mountains.

It is, indeed, a time to put the interests of the people first. It’s all about the people, folks! Even the preamble of the Constitution begins with “we the people”.

President Mnangagwa put it better last week when he said “the voice of the people is the voice of God”. Never at any time should the voice of the people be ignored.

And the secret to fostering that lies in the key appointments that are going to be made, especially at ministry level.

We certainly do not want people who have a record of failure to be appointed into Cabinet positions.

The voice of God is saying, “You shall select from all the people able men, such as (those who) fear God, men of truth, hating covetousness; and place such over them to be rulers of thousands, rulers of hundreds, rulers of fifties, and rulers of tens.” (Exodus 18:21)

We certainly do not want ministers who sit on their laurels and are bankrupt of creativity and inspiration.

Ministers should be actually under performance-based contracts that are reviewed on a quarterly basis. Those failing to deliver should be booted out to pave way for those who can.

A good work ethic should also be inculcated amongst our pundits and other officials in Government to raise productivity, integrity, accountability and professionalism to the right levels.

Anything short of this is futile to hope.

The diabolic and loathsome spirit of corruption must not be allowed to indwell our public officials. We have already lost a limb and arm to corruption, and we can’t continue to allow it to dismember and disfigure us.

Folks, the demon of corruption should, therefore, be chased away from our land right to the colossal gates of hell; and the right tone should be set at the top from the onset.

There is another important issue that our leadership has to pay urgent and particular attention to, which is re-engagement.

You will realise, folks, that no matter how much we can come up with good policies to turnaround the economy, lack of funding will always come out as a key constraint.

Local savings are actually in the negative zone, and we cannot expect any meaningful investment to happen through domestic funds.

Government has already over-borrowed from the local financial sector, leaving the private sector crowded out. We are an open economy and have to look beyond our borders for new capital.

However, the country’s excessive external debts, with no concrete resolution towards expunging it, have resulted in our country continuing to fail to access new lines of credit at concessionary rates.

Even the central bank has highlighted that Zimbabwe’s isolation has made it difficult for the country to secure patient capital, with sanctions also wreaking havoc.

Sanctions are a virus that should be weeded out of the economy’s immune system; otherwise we will continue to be on the sidelines when it comes to real development that positively impacts the lives of much people.

It is about the people, remember.

While some may say that sanctions don’t exist, they are imperceptibly constraining our potential in many facets.

Reserve Bank of Zimbabwe Governor Dr John Mangudya put it better when he said: “You don’t feel them (sanctions) in the streets. You feel them through the financial services sector where cross-border transactions are scrutinised much more than those for other African countries.”

I applaud President Mnangagwa for emphasising the need to re-engage with the regional and international community.

In his speech last Wednesday, he said, “We need also the co-operation of our neighbours in Sadc. We need the co-operation of Africa. We need the co-operation of our friends outside the continent. That we shall achieve.”

This is in line with Section 12(2) of the country’s Constitution, which says, “The State must promote regional and pan-African cultural, economic and political co-operation and integration and must participate in international and regional organisations that stand for peace and the well-being and progress of the region, the continent and humanity.”

This co-operation should culminate in the removal of sanctions as quickly as possible. What many may not realise is that, yes we may prioritise clearing of our external debts, ahead of re-engagement, but to what end?

Are we going to start receiving fresh concessionary lending after repaying all the multi-lateral institutions that we owe?

Certainly not as easy as that!

You see, sanctions such as the United States’ Zimbabwe Democracy and Economic Recovery Act have some funny caveats that can still lock the floodgates of funding for Zimbabwe even after we clean the country’s balance sheet.

According to Zidera, the US Secretary of the Treasury will always instruct the US executive director of each international financial institution to “oppose and vote against” any extension by the respective instruction of any loan credit, or guarantee to the Government of Zimbabwe.

It does not end there.

The executive directors are also instructed to oppose and vote against any cancellation or reduction of indebtedness owed by the Government of Zimbabwe to the United States or any international financial institution.

Given the lion’s share of votes that the US has in these multi-lateral institutions, it is not difficult for the US to achieve that.

So, sanctions are real, folks.

There should, therefore, be aggressive focus on co-operating with all our bilateral and multi-lateral partners to ensure that all restrictive measures constraining our economic potential are removed.

Again, I applaud President Mnangagwa’s declaration last week that, “Today, we are witnessing the beginning of a new unfolding democracy in our country.”

Zimbabwe should embrace all the fundamental ideals of a constitutional democracy in its quest to co-operate with the progressive world.

Already, other leaders such as British Prime Minister Theresa May have called on Zimbabwe to re-join the international community, with pledges to support the country also being made. Folks, the international community is warming up to Zimbabwe. Let us reciprocate by changing our ways for the better. Even local markets have been bullish lately, apparently expressing confidence and resonating to the ideas of the new political dispensation.

We have seen the stock market going down, with black market premiums tumbling as expectations that things will get better continue to bolden.

That confidence should be rewarded with concrete action.

Iwe neni tine basa!

Later folks!