Buy Zim calls for quick economic action

HARARE - Local lobby group Buy Zimbabwe is calling on the new administration to focus on the country’s economic turnaround by addressing the huge import bill, the three tier pricing system and putting into effect the local content policy.

“Now that the elections have come and gone, it’s time for business, not as usual.  Buy Zimbabwe is hoping that the new government will seek to address issues that have been affecting business to run smoothly and supporting the buy local mantra,” Buy Zimbabwe said in a statement.

“Buy Zimbabwe expects the following: To address the huge import bill, take into effect the local content policy and to do away with the three tier pricing system.”

At the beginning of the year, Buy Zimbabwe crafted a new strategy that seeks to improve the development and ascendancy of Zimbabwe to a world-class nation with pride, wealth and jobs.

Buy Zimbabwe also called on the new government to put in place a robust and efficient public sector that will drive employment and improve standards of living, and ultimately impact positively on the private sector for sustained economic growth.

“The government should also create the right, consistent and conducive environment for business to thrive, an improved operating environment, and for positive and enlightened consumer engagement and for increased and expanded market access in commerce and industry sector and assist in creating and preserving current jobs, create opportunities for new jobs while improving the employee welfare,” Buy Zimbabwe said.

Zimbabwe’s unemployment rate is above 90 percent, but the latest official Zimbabwe National Statistics Agency data puts the jobless figure at 6,6 percent.

“Government should also foster company prosperity on the back of sustained local production, import substitution, increased exports, increased local consumption of goods and services, broader and deeper backward and forward linkages and better public sector performance and stamp out corruption.”

Corruption has become rampant and embedded in Zimbabwe such that it has become the scourge of economic development agenda. It is said to be the single major threat to the country’s socioeconomic development and progress.

Between 30 percent and 50 percent of the gross domestic product is being gobbled up by graft, especially from public sector, corruption watchdog Transparency International Zimbabwe recently said.

To fight corruption, President Emmerson Mnangagwa created a special anti-corruption unit in his office to improve efficiency in the fight against all forms of graft and to strengthen the effectiveness of national mechanisms for the prevention of corruption.

Buy Zimbabwe has become more relevant to Zimbabwe’s development paradigm over the years and has consistently engaged its stakeholders to emphasise the “make local and buy local” initiative.

— The Financial Gazette

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