According to the RBZ, foreign direct investment has decreased from $400 million in (2013) to $372,6 million (2014). In comparison, Mozambique received $16 billion FDI from 2010 to 2014. In 2014, Mozambique attracted 3 different foreign owned banks, which have opened 16 branches countrywide.
While preaching cost-cutting measures from every available podium, we see no signs of commitment to saving money. According to the minister of higher education, Oppah Muchinguri, government owes $61M to tertiary institutions for fees paid on behalf of students under the cadetship programme.
According to Muchinguri, government cannot afford to pay this money ‘while the desire and political will is there.’ Despite claims of government ‘desire’ Zanu (PF) is still holding birthday celebrations for the president, over a month after Mugabe’s birthday. Meanwhile the birthday boy himself is nowhere near the scene of these extravagant jamborees.
Unperturbed by the empty government coffers, President Mugabe continues to bounce from airport to airport. In March alone, Mugabe visited Japan, Singapore, Namibia, Algeria and Ethiopia.
Post published in: Business