How can Zimbabwe find investors during an imploding economy in crisis?

How can Zimbabwe find investors during an imploding economy in crisis?

Zimbabwe is going through an unbelievable crisis while travel and tourism remain safe and functioning. The country is slowly reaching a dangerous tipping level.

The crisis is deep with skyrocketing inflation and the military is in full control and a clueless president in charge. Institutions are failing, workers now earn less than 70 dollars a month and the military government is pretending that all is well – but the situation is acute.

A bakery chain just closed because they had exhausted their flour stocks and had not been able to secure new supplies owing to a severe United States dollar crunch, made worse by unviable bread prices. There is no paper available to print passports, so even emergency passports take months to produce

President Emmerson Mnangagwa’s junior, Vice President Constantino Chiwenga has reportedly been flown to South Africa for medical attention.  Farai Dziva| Government sources who claim to be close to ailing Constantino Chiwenga said the former army general was poisoned and is battling for his life at a South African hospital and hasn’t been seen for a month.

Government sources further revealed Chiwenga was poisoned using radioactive Polonium-210.“Chiwenga was poisoned through water that was delivered to his luxurious mansion in Borrowdale. Due to the difficulty of drilling boreholes at the mansion’s hilltop location, the VP’s house was previously serviced by water bowsers and bottled water.

A prominent citizen said: “I thought we had seen everything that this country of ours could throw at us, but the situation right now looks like nothing we have seen before.”

Prices have quadrupled and continue to rise inexorably, incomes remain fixed or at least only 15 to 30 percent higher for people in paid employment, fuel is still short or expensive and now massive electricity cuts. Residents in  Harare are out of electricity for 15 to 18 hours a day, every day.

A frustrated Zimbabwean said: “Personally, I started to pay for my long term retirement security with a major pension company when I was 17 years old. My father has told me you have to have an insurance policy. Eventually, my portfolio was 5 policies – all with the same company, the biggest in the region, and I had contributed in one way or another well over a million US dollars to this company for my personal security once I retired.

Today this company proudly sends me an email each month saying we have paid your pension into your account today in the amount of RTGS$94.00 (that is about US$10.00). A cup of coffee costs RTGS$8 to RTGS$12 in local coffee shops.

The economy is imploding. No investor can risk coming to such a pariah state to invest.

Here is a solution according to an informed knowledge of the situation: The only sustainable way forward is for this ZANU PF government to accept enactment of a coalition government to be put in place which must be an inclusive National Transitional Civilian Authority ( NTCA), demilitarise every institution of government.

Ensure soldiers return to the barracks and move out of participating in economic programs and revert to perform their constitutional duties to protect the country, citizens and ensure peace and security, but not to be used by ZANU PF to brutalize and kill citizens.

To inspire confidence to attract international capital, certainly, there is a need for building ourselves to be Likeable, Trusted and show decorum of Respect. Otherwise, no one brings money into a military dictatorial regime that the tires on state capture as is what is happening right now.

There is a need to stop victimization and brutalization of people including those who have been forced into exile without any cause. The government also needs to restructure the economy and make it productive. There is a need to respect the rule of law, human rights, constitutionalism, and accord the people their rights to express themselves and respecting the sanctity of life. Everyone in this country is scared of state-sponsored violence through abuse of security apparatus to eliminate individuals who differ or have differed with some political actors in ZANU PF including civil society leaders. The reality is that those people who have fled the country are critical human capital, and many of them have brilliant capabilities that have been proven.

The continued use of and institutionalization of state-sponsored violence and victimization of people complicate prospects for the removal of sanctions by the EU and the United States who are calling for the respect of human rights, rule of law and constitutionalism. The government needs also to stop pretending to the rest of the world that it is doing reforms when in fact it is doing completely the opposite. For instance, failure to reform and get rid of repressive laws such as POSA.

Public Order and Security Act is persistently used to arrest people for trying to democratically express themselves.

Its urgent to review AIPA – Access to Information and Protection Act which has scuttled the right to expression by the people and media and unjustified arrests on the pretext that people are trying to unseat the government and the executive interference with the judiciary.

There are lots of things that should be done and Zimbabwe. Simply far from achieving these since there is a regime that thinks the world can be fooled by its megaphonic lies.

Author: Juergen T Steinmetz

Juergen Thomas Steinmetz has continuously worked in the travel and tourism industry since he was a teenager in Germany (1977). He founded eTurboNews in 1999 as the first online newsletter for the global travel tourism industry.