This should be done to strengthen the advocacy function of BMOs and ensure that all business affairs are dealt with effectively. Our economy is in a recovery trajectory and we should strive to harmonise business concerns and make sure that they feed into policy formulation and refinement.
There are several BMOs in Zimbabwe that represent the interests of different economic sectors. Some of the reputable BMOs include the Confederation of Zimbabwe Industries, Construction Industry Federation of Zimbabwe, Advertising Media Association, the Chamber of Mines Zimbabwe and the Zimbabwe National Chamber of Commerce.
These BMOs provide an interface between policy makers and the companies they represent. ZNCC, for instance, aims to be a leader in business development in the national economy and a channel of communication between business and the various authorities in Zimbabwe.
CZI exists to foster and encourage, promote, protect and advance the sustainable growth and development of the manufacturing industry and business in Zimbabwe.
Membership issues
The advocacy role of these BMOs can only be effective if they have a large membership base. There are many companies that don’t belong to these BMOs and that compromises their ability to effectively champion business matters in the interest of the economy.
This is why we should have legislation which makes it compulsory for every operating company to join a BMO that represents that specific sector. Just like it is mandatory for employees to join the trade union of their respective sectors, the same should be the case for companies.
If this were to happen, the BMOs would have the necessary resources and information to represent the interests of business.
Sometimes these BMOs have to travel abroad to represent local business at regional and international forums like the COMESA Business Council, World Trade Organisation and other economic blocs. Some of these forums are very important in shaping the trade integration agenda.
Non-members
BMOs function as a result of membership fees. Sometimes the resources they pool may not allow them to do everything they want to do to enhance the business environment for the better. Therefore, companies that don’t join BMOs will be shooting themselves in the foot.
There is a tendency for BMOs to only focus on the issues that are raised by their members, as they may not be aware of issues affecting non-members. Sometimes critical business matters are not addressed because companies which are not members may not be effectively heard.
BMOs play a vital role in promoting sanity in the business environment. They conduct research which informs policy formulation and change. They organise consultations to gather views on things such as the national budget and mid term fiscal policy review.
The Government should also support and empower BMOs to operate effectively.
It has, through the Industrial Development Policy, pledged to liaise closely with Apex organisations, chambers of commerce and industry and trade bodies in order to set up and sustain a market intelligence. However, there is a need to make it a legal requirement that every company completes business research questionnaires from BMOs.
Countries like the US state on their Annual Survey of Manufactures that, “Your response is required by law”. This ensures that every company responds and that the responses collected provide meaningful interpretation of the business environment and how it should be addressed.
Post published in: Business