Rushed Mnangagwa deal to cost Zimbabwe

Rushed Mnangagwa deal to cost Zimbabwe
President Emmerson Mnangagwa

President Emmerson Mnangagwa

ZIMBABWE could lose approximately $1,1 billion in annual revenue if it ratifies the African Continental Free Trade Area (AfCFTA), inked by President Emmerson Mnangagwa in Rwanda about two weeks ago, experts have warned.
This comes as nearly a fifth of continental member states, including economic powerhouses South Africa and Nigeria, have refused to sign the deal.
Calls are growing louder for Harare to exercise caution as it could expose local industries to external attacks.

Read full story in The Financial Gazette paper

  • citizen

    Stop being ‘Prophets of Doom’ this is the way to go!

    • tonderai dari

      Dear Mr President and Citizen
      I am sure our Excellency the President wants this country to prosper as we all do.I have a summarized a piece of advise to him and all other politicians when they intervene in economies,socioeconomic problems,science etc:
      -If we take a systemic or holistic approach in its real sense and view the country as a whole made up of parts whereby the emergent character of the system is determined by the interaction between the parts,we would intervene differently in problematic situations that we face.Using this view and the most common model which people refer to in this paradigm being iceberg model,I will try and further analyse for you how this view may be a reasonable alternative to problems we face.
      You will notice that Mr President you and your Honorable ministers intervene at mechanistic or on top of the iceberg model where your concern is numbers and policy interventions which are usually horizontal in nature.This is the shallowest level one can ever intervene within a system.One of the results of these actions is counter intuitive policy which creates more problems for us which you do not notice immediately because of various time delays which can be decades.An example was the decision to adopt ESAP,the paying out of funds to war veterans in the manner which the government implemented the policy and entering the DRC war among others.
      Rarely Mr President do you implement decisions which address the system vertically ,thus looking at feedback’s,institutions and their mindset,and at the deepest level the intention of a system.What we need Mr your Excellency is to study the various systems which are by the way interconnected before we start implementing policy change.We also need to be truthful and honest to one another as citizens and deal with issues such as corruption which are entrenched in our mindsets .As a people let us favor quality over quantity in every deal,policy ,workplace and home.Where we have error-ed let us acknowledge and where there is lack we look for the requisite skills. Finally let us favor interventions which have a inclination towards the whole.

      These are some few points I can help you with your Excellency and fellow brothers

      Regards

      • James Gunike

        Common Sense summaries all that you are trying to say. Unfortunately the people you are trying to advise have none.

  • 2018

    Businesses need complete restructuring, protectionist tendencies breed inefficiencies and costly for the consumers. One option available is for businesses to enter into strategic alliances as retooling strategy, shareholding can be diluted but the business will withstand global competition. Companies operating at 20-40% declare profits, that is not sustainable and a product of unnecessary protectionism. We have executives milking companies through hefty packages, we need to open up and compete for the benefit. Dividends are being declared despite a company having obsolete technology. People import even basic commodities and land them cheaper than locally produced products, such companies still lobby for protection despite glaring inefficiencies and greedy from management and shareholders. Signing the agreement done by ED’s administration is the best way forward. We need more innovation than protectionism.

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