In a normal country, having been part of Zanu(PF)s ruinous rule for over four decades would be a disqualifier for the presidency, and the former CEO of a bank shut down by regulators for poor corporate governance, bad management, externalization etc would never be appointed Finance Minister to run the national economy and to be in charge of the regulators that shut down his bank.
No one doubts Mthuli Ncube’s academic credentials. His argument that both monetary and fiscal levers are needed to manage the economy is economics 101.
The problem in our country is that those who pull those levers are corrupt and have no interest in a properly functioning economy where the exclusive opportunities to entrench their political and economic dominance no longer exist.
It’s critical to understand that no fiscal surplus or sound monetary system can be maintained without eliminating the very significant trust deficit in our country, something which is only possible if people and investors have full confidence in the integrity of our leaders and that of our systems and practices.
Our economy will continue to implode as long as people like Mthuli Ncube brazenly continue the Zanu(PF) tradition of dressing deep and horrible wounds with dirty bandages in unsanitary conditions. That doesn’t work not just with the economy, but with the attempts of those with blood on their hands to convince the victims of political violence to trust their championing of national healing and reconciliation efforts.
Nothing good can come out of Zanu (PF)s incestuous relationships that have seen people like former RBZ governor Gideon Gono heading the Special Economic Zones board which reports to Mthuli Ncube. In times past, Ncube accused Gono of destroying his bank. The fact that they have now smoked the peace pipe out of the public’s view only reinforces the belief that our country is run by a bunch of criminals whose only interest is being each other’s protectors.
Eliminating the trust deficit will require those in power demonstrating that they are serious about dealing with corruption. That would include exposing what really happened during Gono’s disastrous turn at the helm of our economy. No one knows more than him who looted what, and how a few became outrageously rich at the expense of the common man.
Trust would be restored if both Gono and Ncube were witnesses in efforts to expose the rot and even held accountable for their part in it rather than holding key leadership positions as we try to turn our economy around.
The nightmare for our country will only be over when we are no longer expected to choose the bungling doctors with long records of taking lives to save our own.
Is There Not a Cause?