Uncategorized

ED tackles economy at Indaba

14 Dec, 2018 - 00:12 0 Views
ED tackles economy at Indaba President Emmerson Mnangagwa

eBusiness Weekly

Africa Moyo
President Mnangagwa is expected to officially open the 17th ZANU-PF Annual People’s Conference today, amid high hopes that his address will focus on the challenges bedevilling the economy and attempt to proffer solutions that would transform people’s lives.

The conference, which started Tuesday with a Politburo meeting in Harare, gets into full swing today at Mzingwane High School in Esigodini, Matabeleland South province.

The President will preside over proceedings.

President Mnangagwa told the Central Committee on Wednesday, which was also held as part of the conference programme, that the annual indaba will focus on “rebuilding the economy”.

Said President Mnangagwa: “The task before us now is to look for ways to build our country and uplift people’s livelihoods and ensure that we have better schools, clinics, hospitals and clean water.

“So we are saying the task of rebuilding the economy is what we are facing. So when we meet in Esigodini, that is what we should focus on.”

President Mnangagwa and ZANU-PF’s work at the conference is cut out, especially with the economy facing headwinds largely from October following fiscal and monetary policy announcements, especially pertaining to the opening up of foreign currency accounts (FCAs) by exporters and individuals with access of exotic currencies.

This saw prices of almost all products shooting through the roof.

Traders are either demanding foreign currency or have pegged prices on the 400 percent exchange rate if one wants to buy using mobile money, transfers or point of sale machines.

However, the exchange rate for US dollars plummeted to between 250 percent and 260 percent.

The use of unofficial exchange rates has seriously eroded the value of money, plunging low income earners into turmoil ahead of the Christmas and New Year’s holidays.

President Mnangagwa is also expected to tackle supply bottlenecks associated with fuel.

The failure by companies to access fuel as and when they want it is now adversely impacting on the efficient operations of the manufacturing sector as they face production and/ or distribution challenges.

Crucially, some employees are spending hours in long queues, which affects production.

It is also expected that the conference will deliberate on, and locate lasting solutions to the various challenges which also include corruption, distribution of farming inputs, high production costs and attending to value addition and beneficiation.

This year’s theme for the conference, “Zimbabwe is Open for Business: in unity and peace towards an upper middle income economy by 2030”, is seen as indicative of the party’s keenness to solve the economic challenges.

Government is already running with “Vision 2030” which seeks to turn the economy into an upper middle-income earner with a per capita GDP of $3 500 in 11 years’ time.

Industry hopeful

Zimbabwe National Chamber of Commerce (ZNCC) chief executive officer Takunda Mugaga last week told Business Weekly that the theme of the conference indicates that ZANU-PF and Government are working in unison.

Mugaga said Government and ZANU-PF are “speaking with the mantra of the President”, that “Zimbabwe is Open for Business”.

“. . . to me the ruling party is pushing the same agenda with Government,” said Mugaga.

Mugaga wants ZANU PF to tackle issues affecting the economy such as foreign currency shortages and price increases.

“The conference will have to look at the current issues happening in business. It should look at how to help investors repatriate their dividends. You know the issue of foreign currency; it has to be looked at too. In other words, we need to find a lasting but urgent solution to this (foreign currency) challenge.

“So the agenda of the ZANU-PF conference should look at all those things with a keen eye,” said Mugaga.

He also wants the conference to thoroughly discuss the issue of corruption, particularly in the judiciary.

President Mnangagwa told traditional chiefs at the 2018 Annual Chiefs Conference in Kadoma recently that Government is intensifying its fight against corruption but it remains prevalent in urban areas.

President Mnangagwa said corruption has now laid siege on the judiciary, but all bad apples would be quarantined.

“We take all the cases of corruption to the judiciary (but) we are hearing now that there is a cartel of corruption starting from the highest court – Constitutional Court – to the magistrates’ court but we are going to deal with that,” said President Mnangagwa.

Mugaga said when corruption affects the judiciary, one of the arms of the State would have been disabled, which means “we are no longer ‘Open for Business’”.

“So we need to take it as a matter of urgency to recover our beloved judiciary. So the President has to set an agenda at the conference on how to deal with such unscrupulous people in Government who are bent on tarnishing the image of the country,” said Mugaga.

Economist Trinity Ncube wants the ZANU-PF conference to discuss efforts of deepening support for youths and women, as well as speaking to reviving the manufacturing sector, agriculture, financial inclusion, and infrastructure development.

Share This:

Sponsored Links

Survey


We value your opinion! Take a moment to complete our survey

This will close in 20 seconds