eBusiness Weekly
Michael Tome/Bernard Yombayomba
HARARE – Renowned African scholars have implored the Government to find ways of promoting domestic investments to ensure long-term growth and continuity in the economy.
This was revealed at the launch of a book called, “The African Union, Autocracy, Diplomacy and Peace Building” at the African Capacity Building Foundation headquarters in Harare last week.
The book analyzes the work of the African Union over the last 15 years at the same time advancing principles of self-reliance, amongst African countries.
Speaking on the sidelines of the event associate lecturer at UNISA and former deputy Chief of Staff in the Bureau of the Chairperson Africa Union Commission Dr Hesphina Rukato said the country should set its sight on mobilising domestic investments to proffer solutions to the ongoing economic impasse with minimal reliance on foreign aid.
“There is no country that has ever developed by virtue of outsider’s kindness or on Aid, we need to develop our own entrepreneurial base, yes development partners are there to assist but we cannot entirely depend on them. I recommend that we need to look at programs that focus on more domestic investment as well than completely focusing on outsiders,” said Dr Rukato.
In the same vein of promoting self-reliance Dr Rukato alluded to the need for transparency in government’s budget spending and allocation of resources, particularly clarity in the intended purposes of tax collection.
“There is need for more transparency on resource allocation and budgeting, like on tax, I don’t mind paying tax if I can see where my money is going to, for example if young people are getting taxed, there has to be visibility on what the money is doing for young people to propel them, to take the country forward,” she said.
Weighing in on mobilisation of domestic resources Professor Tim Murithi of the Institute of Justice and Reconciliation said local resources should be exploited in a way that elevate local people’s standards of living.
“Domestic resource mobilisation is a fundamental component of any effort to build a continent that is prosperous and at peace with itself .We need to find ways to ensure that our own natural resources are maintained to ensure that we have our own indigenous resources such that there is economic growth and our people are not left in conditions of poverty,” said Prof Murithi.
