South African chief economist for the Industrial Development Co-operation (IDC) Lumkile Mondi even urged South African businesses on the need to rush into Zimbabwe for investments saying now is the time to go into Zimbabwe to avoid looming stampede for opportunities.
But the question is: What kind of deals does Zimbabwe need particularly this time when the country is trying to turn around its economic fortunes?
With this sudden rush for investing in Zimbabwe, it is time to reflect on previous deals which the government and business have entered with different investors.
It is important to note that Zimbabwe like most African economies have over the years received funds from the developed world mainly for non-developmental areas like disease and poverty and other social spheres.
This development has left Zimbabwe and most developing economies in a situation which does not permit and support economic growth or industrialization.
Zimbabwe National Chamber Commerce Vice President Oswell Binha has encouraged Zimbabweans to be cautious in approaching these deals.
Zimbabwe is like a family that has been exposed to food after a long spell in poverty. The country need to seriously consider these deals with the government playing a leading role to allow foreign private enterprises to interface with local private firms for sustainable partnerships, Binha says.
Lack of infrastructure and human capital vital for building a modern economy is also major stumbling block chocking Zimbabwe.
Leading Zimbabwean business woman Devine Dhlukula warned that Zimbabweans should not play second fiddle adding that that whatever deals to be struck Zimbabweans should at the end of the day be major drivers of the economy.
We should not be found wanting at the tail of the queue as workers, she pleaded.
Zimbabwes technological revolution is lagging far behind that of the developed world that, what the country needs now is a fair technological transfer to its favour, Dhlukula advised.
Economist Luckson Zembe concurred with Dhlukula on technological transfer but highlighted that what Zimbabwe need are fair joint ventures with foreign investors.
In this respect for the country to transform itself from this situation more aggressive and sustainable investment deals which will go towards supporting the countrys industry are a prerequisite.
This can be accelerated and positively supported by the integration of Zimbabwes small entrepreneurs into global manufacturing networks by encouraging multinational and local companies to source local raw materials.
Willard Razawo is Zimbabwe National Chamber of Commerce public relations and business development manager for Harare.
Post published in: News