eBusiness Weekly
By Jeffrey Gogo
A new television advert has started to push Zimbabwe’s business and investment agenda on the global stage. The 30-second advertisement, on regional satellite TV sports channel SuperSport, carries a number of the country’s key tourist draw-cards, accompanied by a powerful message of the investment opportunities available in a post-president Mugabe economy, one that is both transforming and expanding.
The key selling points in the advert include The Victoria Falls and The Great Zimbabwe, a promise of safety to foreign capital and a declarative invitation by President Mnangagwa that “Zimbabwe is open for business.”
Zimbabwe is on a global charm offensive, seeking to woo new and old capital and to repair a national image battered by decades of misrule, theft, economic sanctions and international isolation.
The economy is thought to have shrunk by more than half during the decade to 2008, as inflation took toll on the economy resulting in thousands of job losses.
“Zimbabwe, a new dawn,” opens the communication, flighted for maximum effect just before the start of every football World Cup match, which began in Russia on June 14.
“The rush of adrenalin. The thrill of adventure. Enjoy the hospitable, magnificent spirit of Zimbabwe,” it continues, to the mellow sound of a befitting backtrack, Oliver Mtukudzi’s “Matitsika”, a song of cordiality, and himself an iconic Zimbabwean cultural export, who also features on the ad.
“Make lasting memories. It’s about the enjoyment, the music, priceless moments we share, friendship. It’s our home, your tourism and investment destination. Come and experience Zimbabwe, a world of wonders,” the advert says.
Restoring old relations
For about 20 years, Zimbabwe has defaulted on its global debt of over $8 billion, forcing the international lenders like the IMF, World Bank and the African Development Bank to withdraw financial support.
Without funding, manufacturing companies collapsed and imports soared, as structural changes in agriculture led to a rapid decline in farm production, the economic mainstay.
Experts say most of the problems trace their origin to former president Mugabe’s fast track land reforms of the early 2000s, and his radical shift in foreign policy, dumping traditional Western financiers to embrace those from the East.
They say Mr Mugabe allowed corruption to flourish for political gain.
But since coming to power in November last year, President Mnangagwa has taken on a different path, yet while reiterating the irreversibility of agrarian reforms, that nonetheless require a curative stock-take to improve efficiency and eliminate multiple farm ownership.
He has begun a series of dramatic political and economic reforms, intended to raise Zimbabwe’s game by reviving old relations, strengthening existing ones and building new others.
Foreign investors have responded by promising $16 billion of investment’s worth, targeting particularly the mining and energy sectors.
The commitments are more than all the foreign direct investment that the country booked in the two decades before November 2017.
Now, the advert on SuperSport represents the latest in a multi-pronged marketing drive by President Mnangagwa’s administration to rebuild the country’s image and attract foreign capital.
Top Government officials have already been to a number of some of Europe’s key capitals, including London and Brussels, to discuss terms of re-engagement.
President Mnangagwa said at his inauguration last year that “key choices will have to be made to attract foreign direct investment to tackle high-levels of unemployment while transforming our economy”.
The ad is likely to be aired about 64 times throughout the football tournament, the world’s number one sporting event.
Each flight on Africa’s biggest television sports channel helps bring more people – potential tourists and investors – into contact with the image and message of a new Zimbabwe, an economy in transition, with significant growth opportunities.
That’s because the football World Cup is watched by billions of people across the globe, and millions more in Africa.
And SuperSport, a South African pay-television channel owned by Multichoice Ltd, is connected to millions of homes, offices and mobile gadgets throughout the continent.
According to the know-it-all online dictionary Wikipedia, the channel, which broadcasts most of the major sporting events including cricket, tennis, golf and others, “is the former world’s biggest broadcaster of live rugby and cricket been overtaken by Sky Sports, and also the world’s second (English) Premier League broadcaster, broadcasting matches live and, where possible, in high definition.”
There’s no novelty in countries trying to attract investment and tourists by publishing ads in international media.
Zimbabwe is only playing catch up with countries like Rwanda, Nigeria and Mauritius that have been running ads on global TV platforms such as the BBC World News and CNN.
But there is something refreshing about a country rocked by years of isolation, economic and political regression making every little effort to regain its rightful place in the global community of trade, commerce and, inevitably, geo-political affairs.
It is the advert that’s changing the way that Zimbabwe looks at itself, and how others look at it.
