eBusiness Weekly
Africa Moyo
Business has continued as usual in the country, with all basic goods and services readily available on the market at relatively low prices despite the challenge of presidential poll results by losing candidate, Nelson Chamisa of MDC Alliance.
Businesspeople say confidence in the investment climate remains sky-high as the nation awaits the court ruling.
The Zimbabwe Electoral Commission (ZEC) chairperson Justice Priscilla Chigumba, announced on 2 August, 2018 that Zanu-PF presidential candidate Emmerson Mnangagwa, had romped to victory in the polls after garnering 50,8 percent of the votes compared to Chamisa’s 44,3 percent.
However, Chamisa took advantage of provisions of the Electoral Act to challenge election outcomes if one is not happy.
Despite the challenge, which was filed on August 9, it is business as usual in the country with no reports of shortages of basic goods being received.
Critically, prices of goods and services have generally remained at the levels that existed by the time of voting, with analysts saying it is an indication that manufacturers and retailers have shunned rent-seeking behaviour.
Confederation of Zimbabwe Industries (CZI) president Sifelani Jabangwe, told Business Weekly on Wednesday that the wait for the court outcome has not impacted on their operations.
CZI is the country’s biggest industry representative body.
Said Jabangwe: “Well, I think the key thing is that as business we need to continue doing our business because the general structure of Government continues to operate.”
While Parliament was dissolved following the election of new members, Cabinet ministers continue in their portfolios until a new president is sworn-in, in tandem with the dictates of the country’s supreme law.
Ministers continue to execute their duties, including tackling questions from the media, an indication that Government functions are being discharged fully.
Similarly, President Mnangagwa continues to lead the country on the basis of the mandate he obtained on November 24 last year, again, in sync with the constitution which allows a political party from which a President came from, to field another to finish the outgoing leader’s mandate in the event of a resignation or incapacitation.
Former president Robert Mugabe tendered his resignation on November 21 last year following a wave of demonstrations that rocked the country three days earlier, and an impeachment process that had been initiated by his party Zanu-PF.
Jabangwe said it was imperative that citizens allow the law to take its full course regards the electoral challenge by the opposition, given that national laws provide for poll disputes to be resolved in the courts of law if there are disagreements.
“We have to let the electoral processes that we ascribe to, to take their course.
“Our laws carry this component where results are challenged and I think that ensures we have pre-electoral processes and post electoral processes that allow for grievances to be resolved.
“In the meantime, as private sector, we must continue to do business and as the CZI, we are actually working on agenda that we want the next Government to take into consideration,” said Jabangwe.
Economic development is paramount at this point following several years of economic meltdown under former president Mugabe.
All political parties that battled it out in the July 30 polls had manifestos that spoke most on the need to revive the economy.
Zanu-PF said if elected into power, it would create more decent jobs for ordinary citizens as it seeks to achieve vision 2030 of turning the country into a middle income earner.
The Zimbabwe National Chamber of Commerce (ZNCC), which is the country’s biggest voice for business, also said delays in swearing-in the new president have no material impact on the smooth operations of the economy.
ZNCC chief executive officer Takunda Mugaga, said any assumptions that the failure to inaugurate a new president are taking a toll on business are “exaggerated”.
“I don’t think there is any problem at all. If there is, then I think it is exaggerated. Of course as a nation, we are trapped in a wait-and-see-attitude but I don’t think the delays are affecting anything because the confidence is there in the market.
“There is also expectation in the market that the status quo (President Mnangagwa) is going to be maintained,” said Mugaga.
Mugaga’s sentiments come at a time when political analysts opine that the MDC Alliance has not mounted a foolproof challenge that can result in courts overturning the ZEC result, and potentially cause a re-run or the declaration of Chamisa as president.
Immediately after filing opposing papers, President Mnangagwa’s lead lawyer, Advocate Lewis Uriri, said they are “more than confident” that Chamisa does not have a solid case and his court challenge was “simply political rhetoric packaged in an affidavit”.
In terms of Section 93(4) of the constitution, the Constitutional Court has wide powers in determining a presidential election petition. It can declare a winner, invalidate the election and call for a fresh one; or make any other or it deems appropriate.
