The Sunday Mail
Taurai Changwa Business Forum
FOR the past 15 years, Zimbabwe has been limping, as the brutal regime of economic sanctions imposed by the European Union bloc and the United States of America took its toll. Independent estimates even suggest that the country could have lost more than $42 billion through the embargo since 2001.
Perhaps the biggest question that has emerged over the years is: Who will turn around the local economy and how? There is, however, compelling evidence to show that more than politicians, the International Monetary Fund and the World Bank, the youth in particular are a leading light. Not only will they drive the economy out of the current rut, but they will also drive it into the future.
The world over, Zimbabweans are known for hard work, but corruption, which the Government has since acknowledged, and a record of policy inconsistencies has been reducing their stock. But of late there have been visible signs that Government is actively fighting this scourge.
Clearly, it is now time for the youth to liberate our economy. There is critical need for politicians and business leaders to seriously consider investing in youths and start grooming and mentoring them.
Investing in the youth entails inculcating in them values of what is right and what is wrong, including integrity, good morals and good ethics. Unfortunately, the hyperinflationary era that preceded 2009 forced many youths to conveniently look for the easy way out through both illegal diamond trading and foreign currency trade.
And the get-rich-quick syndrome is still with us. As the country makes baby steps towards economic rehabilitation, there is every need to unlearn this culture among the youth.
Naturally, the youth policy should be aligned to market trends, business strategy and talent development.
The youth form the core of our society and there is need to identify their talent.
A sizeable chunk of this critical constituency – some of whom might be oblivious of the struggle that the country is waging against hostile forces – continues to leave the country to seek relief in foreign lands. Therein lies Government’s ultimate challenge. Policy makers should create capacity for the youth.
There are countless examples in Kenya, South Africa, Nigeria and Zambia and other countries in the Sub-Saharan region where youthful executives have assumed big roles in parastatals, including in public office. For example, Mr James Mworia is a 33-year-old Kenyan who is a chief executive officer of Centum Investments, one of East Africa’s largest equity firms.
Also, from the same country Mr Gachao Kiuna (33) superintends over Nairobi Stock Exchange (NSE)-listed Transcentury Group.
According to global financial reporting firms Bloomberg, CBS and Thomson-Reuters, the NSE was the fourth best performer in Africa last year. Another notable youthful executive is 38-year-old Mr David Munro who is the chief executive officer – corporate and investment Standard Bank Group South Africa.
Emerging markets in Africa are slowly entrusting the youth with the future of the continent. But obviously experienced staffers are having an oversight role in companies, especially as board of directors. While company boards serve to give management the broad direction the company has to take, the management is responsible for the day-to-day running of the organisation.
A young CEO is likely to add enthusiasm, fresh ideas and the much-needed energy, yet older staffers are likely to bring in experience and maturity.
Inevitably, the chairman will always play the guiding and mentoring role.
Government can actively recruit from this active and budding pool in order to recruit the right skills that are needed to move the economy forward.
Government seems to be alive to this key need as evidenced by the recent Cabinet reshuffle where the appointment of experienced personnel as Cabinet ministers was tempered by the recruitment of youthful ministers.
Well, it might be useful considering youthful executives to run our local parastatals and municipalities.
There are a lot of local youthful personalities that can come in handy to manage some of these ailing companies.
All that is needed is for those in authority to trust and believe in the youth.
On the contrary, developed countries are facing a much different challenge than developing countries: an aging population. However, experts say that there is scope for countries such as Zimbabwe for harnessing the youthful dividend to promote economic growth.
Some of Zimbabwe’s best young talent is working for the developed world and yet there could be deploying their expertise at home. As has been proven before, many companies in the region, especially in South Africa, are being managed by young Zimbabweans. Zimbabwe should start to make use of this precious resource in order to unlock inherent local value.
Having competent youth is a very huge strategic advantage on its own, because it ensures continuity.
Taurai Changwa is an Articled Accountant and ACCA finalist. He is the managing director of SAFIC Consultancy. He writes in his personal capacity and can be contacted at [email protected] or visit our Facebook page SAFIC Consultancy or whatsapp on 0772374784.
