The power of self-belief

17 Mar, 2019 - 00:03 0 Views
The power of self-belief

The Sunday Mail

Allen Choruma

The prospects of Zimbabwe scaling to greater heights are real, but for starters, this can only happen if we start believing in ourselves as a great nation.

Vision 2030 has the potential to transform our beautiful motherland and create the “Zimbabwe We Want”, but that can only come to pass if there is commitment from all Zimbabweans.

It also needs to be supported by strong political will to drive change in a manner that is inclusive and benefits all people.

Zimbabweans should start to actively participate in the economic transformation and development of their country.

We need to change our mindset and start believing in ourselves.

Zimbabweans are a hardworking and competitive people by nature and it’s high time we harness this potential to drive our transformation and development agenda.

We should not be stuck in our country’s recent past.

Instead, we should learn from it and have a shared national vision that guides us on how we can overcome past and current challenges and create a vibrant, inclusive economy for the benefit of present and future generations.

Resources

Zimbabwe has a strong resource base to drive its development. It includes:

◆ People: A peace loving, hardworking and competitive people.

◆ Land: 10 490 square kilometres of arable land suitable for commercial agriculture.

◆ Human capital: a population of 15 million with a high literacy rate of 95 percent.

◆ Resources: abundant natural resources with forty (40) different types of minerals (for example, diamonds, platinum, gold, chrome, nickel, coal, natural gas).

◆ Climate: good and predictable climate, not prone to many natural disasters, except occasional droughts.

◆ Tourism: prime tourist attraction sites.

◆ Land Reform: successfully addressed the skewed colonial land tenure system through transfer of land to the indigenous people; thereby, securing peoples’ access to resources and means of production.

◆ Diaspora: population estimated at 2,5 million which is capable of providing enormous financial and human capital resources for the development of the country.

◆ Governance: a progressive Constitution based on equality of all people and safeguard of human rights for all.

Foreign Investors

Zimbabweans need to take ownership and realise that our great country cannot be developed by other people other than ourselves.

Zimbabwe’s development thrust will bear more fruit if it is driven by its own people and domestic resources.

Yes, we need foreign direct investment (FDI), but until we change our mindset and are prepared to take ownership and responsibility for our development, FDI on its own will not transform Zimbabwe into a vibrant and advanced emerging economy like Singapore.

Zimbabweans should not act desperate when it comes to FDI.

Some of the deals offered through FDI may not be in the best interest of the country.

Some foreign investors are dubious, fly-by-night actors, who are merely interested in making a quick buck, at any cost, and should not be entertained.

Commenting on the calibre of foreign investors, former Botswana President Ian Khama — at CZI business forum in Bulawayo on October 29 2018 — said: “When I talk about (foreign) investors, I am not talking about fly -by-nights. I am not talking about one person coming in and employing one person and possibly moving into space that should be occupied by Zimbabwean entrepreneurs.”

He added, “I am talking about people, investors who will come in and genuinely add value to your economy and allow your economy to grow, who will contribute to employment creation.”

Transitional Stabilisation Programme(TSP)

Despite what may appear to be a gloomy picture, Zimbabwe’s economic recovery is not mission impossible.

In the short-term to medium-term, TSP lays a solid foundation in addressing economic challenges facing Zimbabwe as it drives towards Vision 2030.

The TSP targets to create fiscal stability within two years through massive cuts in Government expenditure, reduction in employment costs, State enterprise reforms, widening the domestic tax base, ending RBZ’s quasi-fiscal activities, supporting domestic investment and export drive, among other strategies.

Externally, TSP mainly focuses on FDI, clearance of foreign debt arrears and engagement of multilateral lending institutions to open credit lines.

If Government is disciplined and implements TSP to the letter, that will result in economic stabilisation and turnaround in the medium term (say three years).

2019 Budget

The 2019 Budget presented in November under theme “Austerity for Prosperity”, though conservative, lays out a robust fiscal framework and sets good ground towards fiscal stabilisation and economic growth, which is forecast at 4 percent (2018), 3,1 percent (2019) and 7 percent (2020).

Finance and Economic Development Minister Professor Mthuli Ncube has also clearly spelt out the need for implementing reform policies in order to attract FDI, Diaspora investments and remittances, domestic incentives for increased agricultural production, including the need to ensure food security and less reliance on food imports.

Fiscal authorities are also pushing for increased production in export growth sectors (mining, horticulture, tobacco) and tourism promotion in order to earn the country the much-needed foreign currency.

Reforms outlined in the 2019 Budget, as read with the TSP, can help Zimbabwe achieve economic stability provided they are upheld in letter and spirit.

African countries like Rwanda have shown us that turning around an economy can be accomplished.

Outside Africa, Singapore is a constant reminder and inspiration to Africa of what can be achieved through a shared national vision, innovation, entrepreneurship, discipline, national cohesion and a selfless and dedicated visionary leadership.

Singapore

According to African Business magazine report (August/September, 2014), Singapore achieved its independence in 1959 from Britain, almost at the same time as African countries like Ghana, Kenya, Nigeria.

Then, Singapore was a poor, squalid, overcrowded, unhygienic and insignificant tiny Asian country with no natural resources worth mentioning.

Its economy and the living standards of the majority of its citizens were described as being far worse than most African countries. In fact, unlike most African countries, Singapore had no natural resources — it could not feed itself.

It had to import water from its neighbours as its rivers and waterways were so filthy that the stink was carried all the way to Malaysia and Indonesia.

Its slums were described as being the most squalid in the world.

It was unstable as the ethnic Chinese, Malays, Indians, Eurasians and a few Europeans who made up its population were constantly at each other’s throats.

Singapore earned its living by processing rubber, copra and other produce from the hinterland around it.

When the British left in 1959, the island’s fate under its young leader, Lee Kwan Yew, seemed doomed.

In a desperate attempt to survive, it formed a union with Malaysia. Two years later, Malaysia expelled Singapore.

At that point, prospects for this young island nation were dim.

But what happened next was a wonder created out of a tear drop.

Singapore’s extraordinary transformation, from a disease-ridden “basket case” at independence in 1959 to becoming one of the world’s most successful countries today is an incredible and fascinating piece of history.

Unlike where Rwanda and Singapore started from, Zimbabwe has a strong resource base which it can use as a springboard for catapulting its economic transformation agenda.

Zimbabwe should take advantage of its strong resource base and use it to create a vibrant emerging economy that generates wealth and uplifts the living standards of its entire people.

Ease of doing business

Zimbabwe’s mantra “open for business” should be supported by economic and regulatory reforms that improve “the ease of doing business”.

The 2018 World Bank Doing Business Report shows that Zimbabwe is on the lower rungs of the “ease of doing business” rankings.

Zimbabwe ranks 159/190 countries.

However, countries in the top 10 include: Mauritius, Rwanda, Morocco, Kenya, Tunisia, South Africa, Botswana, Zambia, Djibouti and Lesotho.

As a country, we need to improve “ease of doing business” in order to stimulate both domestic investment and FDI.

Vision 2030

Vision 2030 should be widely propagated to ensure that all Zimbabweans share this vision.

Vision 2030 should not be politicised but should be looked at from its merits as an inclusive nationwide economic development aspiration that seeks to transform lives of ordinary Zimbabweans. The prospects for Zimbabwe to scale greater heights like Singapore are real, provided we start believing in ourselves through a shared common vision. We also need to be prepared to sweat in order to achieve inclusive economic development and social transformation.

 

Allen Choruma can be contacted on e mail: [email protected]

 

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