Mugabe call encouraging but…

HARARE - President Robert Mugabe’s encouraging statement on respecting investor rights should not be allowed to stop with the full stop on the paper on which his Heroes Day speech was written on!

It’s significant that Mugabe, who is seen as a stumbling block to attracting investment into Zimbabwe, chose a day that he usually attacks the West and United States, to send a good call to investors who remain wary of his policies seen as investor unfriendly.

“We are a country that observes and respects the rights of investors. We are prepared to listen to investor concerns and are in the process of managing the cost of doing business so that investors are comfortable to operate in this country,” Mugabe told his supporters on Monday.

Since the enactment of the Indigenisation and Empowerment Law, whose implementation of 51/49 percentage ratio favouring locals at the expense of foreign investors, Zimbabwe has suffered terribly to attract meaningful investment.

We are hoping that Mugabe’s call to respect investor-rights would be universal as his government has often displayed worrying tendencies of disregarding such pronouncements. Respecting investor rights includes protecting their properties not what we have seen happening at farms where foreign investors are involved in production.

Cases in point include seizures of land belonging to partners operating under the Bilateral Investment Promotion and Protection Agreements (Bippas) signed between Zimbabwe and other countries.

It is our expectation this time round that Mugabe and indeed his administration which is, slowly but surely beginning to mellow after years of obstinacy and bickering with the West and its key allies in Scandinavian countries and the United States, will go beyond just his statement.

Mugabe and Zanu PF should be seized with refining and amending the indigenisation law to woo investors who remain doubtful of Zimbabwe’s attitude towards them.

What is needed is for policy consistency that helps build confidence. The biggest problem that Zimbabwe faces is that of bad perception and the resultant lack of confidence. Capital is timid and those who own it need clear-cut policies that attract and secure their investments.

Mugabe and colleagues must not continue to be synonymous with policies that suffer stillbirths as a result of political control. Zimbabwe remains part of the world and right now needs to make the right economic noises to emerge from the current shackles. It is our expectation that Mugabe will lead by example and honour his promises.


Comments (5)

a little too late no rather we are a decade late

chihombori - 12 August 2015


Patrick Guramatunhu - 12 August 2015

investors are like woman who is being courted by more than 1 man so if they feel that man 5 or 6 is better than 1 why note go there.this business of ob booty lickers doesnt work lets have a balance moral way of conducting business if they dont want to business in zim clealry they can try the desert bots or the crime infested south africa or boko haram nigeria at the end of the day i agree with the president Zimbabwean resources should benefit Zimbabweans go to Europe you don't the situation we are having in Africa where the host country which has the actual resources being dictated upon ,i firmly believe that Europeans don't care about Africans all they care about is making money that's it ,in South Africa companies pull out they don't care of implications they live behind,

dube1 - 13 August 2015

I would like to air my uttermost sentiments regarding the visit by zulu king goodwill zwelithini to Zimbabwe. First and foremost,I personally,feel it is a disgrace.He actually fuelled hatred amongst African brothers and sisters by uttering irresponsible xenophobic statements.All hell broke loose soon after his hate speech.We don't need such heartless 19th century malignant malcontents of imbecility who are namby-pamby.

JUSTICE MALABA - 13 August 2015

I agree with dube1 let's have a moral honest way of doing business in Zimbabwe, let's not steal 51% of other peoples hard work.

Citizen - 14 August 2015

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