ZNCC’s newly elected president, Hlanganiso Matangaidze, told The Zimbabwean that the issue of liquidity was uppermost in the minds of local businesses.
“Most businesses in areas such as Mutare and Bulawayo and other centres across the country are closing because lack of adequate capital,” he said.
Matangaidze said the chamber would also be looking at the direction Zimbabwe was taking on the monetary union envisaged by SADC and disposable income for the general public.
“We are still using the United States dollar and the SADC’s plans for a common currency are going ahead. We would want to hear from the governor how Zimbabwe is positioning itself on this issue,” he said.
Economist John Robertson said the country’s biggest handicap was its productive capacity. He said the country’s liquidity constraints must be addressed to in order to unleash the productive sector.
“If you were to say today you want to float a new company on the stock exchange everyone would say now is not a good time because people do not have money to dispose of. This brings us back to the issue of increasing the productive sector’s capacity to generate more employees. These are the people who would be able to spend money on buying shares,” he said.
The Reserve Bank governor is expected to announce the monetary policy soon. Gono has already said he was going to relax minimum capitalisation requirements for banks as some are struggling to attract the needed investment to raise the capital.
Post published in: Business