Anxiety over new Cabinet

via Anxiety over new Cabinet – DailyNews Live by John Kachembere

Mugabe’s continued delay in announcing a new Cabinet has caused anxiety in the economy.

Mugabe (89), who won the disputed July 31 election with a 61 percent vote, is yet to appoint a new Cabinet — a move which analysts say intensifies economic stagnation.

The southern African nation’s economy — which showed signs of life, growing by an average of seven percent annually under the government of national unity that was formed in 2008 after a contested election — has begun to wean off.

Respected economist John Robertson said Mugabe’s failure to initiate investor-friendly policies as well as announcing a new Cabinet has caused apprehension in the economy.

“At the moment, no one is aware of where the economy is going. There hasn’t been a clear enunciation of policies that will take the economy forward,” he said.

Robertson noted that the current economic inertia is being caused by the people’s disappointment in the election results.

“All investors were expecting that the MDC will win and bring with it new policies that are friendly to business.

“However, we still have a hostile business climate and no one is willing to put their money in an environment full of uncertainty,” he said.

Zimbabwe’s equities market, which plunged 11 percent immediately after the announcement of election results — its biggest one-day decline since 2009 — has failed to find direction since then as foreign investors are taking a wait-and-see approach.

Government was recently forced to slash this year’s economic growth forecast from 5 percent to 3,4 percent due to elections, low aggregate demand in the economy, falling metals prices and drought among other factors.

With the country’s economic indicators painting a gloomy picture, analysts say Zanu PF seems more determined to worsen an already messy situation as opposed to coming up with the correct economic remedies that could take us forward.

Last month, Zimbabwe’s long-serving president threatened to expel foreign-owned companies over what he said was the West’s interference in the politics of the country he has led since 1980.

Economist Christopher Mugaga said the wait-and-see approach obtaining in the country is now more of a culture than anything.

“People were waiting for the referendum, elections, and results and now they are still waiting for the cabinet.

“I don’t think a new Cabinet will change anything because we all know that it’s going to be an all Zanu-PF Cabinet,” he said.

“I think the same old guard will be reshuffled but the indigenisation policy will take centre stage. So really, I don’t foresee the announcement of Cabinet changing anything in the economy,” said Mugaga.

Since winning another term, Mugabe has vowed to push ahead with a black empowerment programme to force foreign and white-owned businesses to cede 51 percent ownership to black Zimbabweans.

Some economists warn that the programme will trigger another economic downturn similar to what Zimbabwe suffered after the Zanu PF government violently seized white-owned farms in 2000.

Mugabe, however, says the economic plan to force black control of companies will create jobs and economic growth that had been hindered by what he called “a tenuous and fraught coalition with uneasy partners” in the opposition led by former Prime Minister Morgan Tsvangirai.

The MDC leader favoured attracting Western investment during the five-year coalition forged by regional leaders after the last disputed elections in 2008.

Mugabe says Britain has opposed black empowerment because he forced thousands of white farmers to surrender their land.

Critics of the programme say it disrupted Zimbabwe’s agriculture-based economy, shut down industries and scared away foreign investment in mining and other businesses.

COMMENTS

WORDPRESS: 26
  • comment-avatar

    Does anyone believe these people care? They understand one thing only violence and total obiedence to their whims. They will therefore only respond to extreme violence which decapitates the regime and leave the country intact. But alas we have no leaders with Balls to do so. Every SADC leader except Botswana is receiving blood diamond money to side with the thugs Zanoids are.
    By the way the deafening silence about the diamond money is echoing continuously. Where is it, ZANU PF the people demand to know!

  • comment-avatar
    Observer 7 years ago

    Just another diesel cabinet coming except this time it will include the robotic professor. Rotina is out of prison and will ably remain the chief consultant with facilitation by non other than Tobaiwa.

  • comment-avatar
    Mkast 7 years ago

    Get a life losers start preparing for next election,dont we have patriotic economists we are tired of negativity and forgert abt investors investors, we are doing things our way we have been to hell n bk,

    • comment-avatar
      Tjingababili 7 years ago

      LEGALISED THEFT!

    • comment-avatar
      munzwa 7 years ago

      quit winging about it Mkasi,and get on with it then, dont keep finding excuses for everything you try and do.Where is the diamond money by the way and why dont our chefs invest (their ) money in Zim rather than elsewhere? Like Tete.

    • comment-avatar
      Mwanawevhu 7 years ago

      It seems you are heading back to he’ll mate.

    • comment-avatar
      Nhamodzenyika 7 years ago

      Zanu pf is a ruining party…not a ruling party…

  • comment-avatar
    Tjingababili 7 years ago

    ” MR PRES, WHERE IS THE BEEF”!

  • comment-avatar
    Diego Zhaba 7 years ago

    @Mkast – You really sound bitter from what the losers say, but I feel if we take some of their criticism positively we can build a better government than ever before. Let criticism come and let the winners work their way round that and get the economy on track.But if you remain arrogant aaah it’s going to be another period of shelf-less supermarkets and the hunt for diesel in the Chinhoyi caves as OBSERVER put it. Winners should learn from the good the losers offered and equally learn from their own mistakes – but 33 years seems a very long period that nothing has been learned. All the best Mkast.

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    Democracy wisher 7 years ago

    Do you even expect change and development from this gvt of looters??They have failed for a period of three decades.They are juc plunging the nation from bad to worst,Indegenisation is not even benefiting anyone,to hell fr saying job creation.Zim infrastructure where Smith left its where it is…Nyika yazonyasowira kumawere.OUR COUNTRY NOW INTO A DEEP CLIFF DUE TO THESE SELFISH,CRUEL AND GREEDY PART…

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      Mufundisi 7 years ago

      What i dnt understand is the indegenisation issue.What really does this mean? Who is entitled to be a beneficiary? Us youth we have more than expected, brilliant projects in minds.Who and where exactly shld we direct our applications? When shld we get responses and finally that capital? Tired, where is the money CDE KASUKUWERE?

  • comment-avatar
    Chitova weGona 7 years ago

    After 33yrs of ruin,what else can they do? They rigged the polls bt can they cheat the economy? They are in shambles!

  • comment-avatar
    eztechplc 7 years ago

    Welcome to 2008, again!

  • comment-avatar

    People choose to see or hear what they want. ZANUPF has clearly said INDIGENISE. But you say there is no clear policy. What clear policy do these economist want or is it an admission that Zanupf s language is too advanced for some of the traditional economists?

  • comment-avatar
    munzwa 7 years ago

    but i am told this indigenise policy is negotiable!!lick their boots and wow you can have more than 49%….for now!!!

  • comment-avatar
    supermondo 7 years ago

    the chineese don’t pay anything near 51%,,why so long to choose a fake cabinet because there is no one good enough,,you have heard of the charge of the light brigade,,this is the charge of the halfheads.

  • comment-avatar
    MikeH 7 years ago

    “country he has LED since 1980”. MISGUIDED would be far more apt and that’s being polite.

  • comment-avatar
    Collin Mackenzie 7 years ago

    I support Mugabe but to be honest, positive criticism is key.

    People must be critical and allow input and his cabinet should not be full of yes men.

    Im really concerned with the delay in announcing a new cabinet.

    Zanu PF was positive when campaigning and seemed to have a immediate plan for the better

    Now Mugabe is letting me and the people of Zimbabwe down and that’s frustrating the living hell out of

    Zanu PF have no time to delaying with such trivalent issues to change the status core.

    Zanu PF need to realise and be realistic an start thinking that this is a life line Zanu PF got.

    Mugabe must choose the right people to govern even MDC personal for the good of Zimbabwe, but no to ugly looking Morgan.

    Election’s have come and gone and it time to build

    We are tired of all this its time Zimbabweans lives change for the good.

  • comment-avatar
    gukurahundi (GNB/jukwa) 7 years ago

    mugabe is gona do more damage

  • comment-avatar
    Collin Mackenzie 7 years ago

    We what to see new roads and an all street lights restored

    Surely that must be very easy.
    Why the delay and for what..???????

    If Zanu PF doesn’t make any positive changes in the next few months they can kiss my loyalty goodbye.

    This blame game must STOP and Zanu PF must now be the true masters of Zimbabweans destiny this time people will not allow none performance at all.

    Mugabe must be proactive and act on the principles of the election’s and the people who fought and died for a great Zimbabwe, 9not a Zimbabwe that is full of empty promises, dirty, dark and backward no no no.

    I think an open letter must be sent to him by all concerned Zimbabweans and those who voted for Zanu PF.
    Voting for Zanu PF was because we want to see positive life in Zimbabwe.

    People are sick and tired of living in other countries growing there economy’s because Zimbabwe is a mess and full of empty promises.
    By now cabinet should have been sown in and working

    Im so upset and angry, this clearly shows lack of interest in the people’s needs an a primitive way of doing things.

    If Mugabe can’t do it or find people capable to do the work,
    I will clearly take that offer and do the job man.
    All I ask is for
    president Mugabe to please do the right thing and start delivering what you promised.

    I have had it with Zimbabwe always being the laughing stock of everyone even stupid country the likes of Nigeria laugh, yet Zimbabwe has it all.

    100% Zanu PF but my principles are for the good of Zimbabweans.

  • comment-avatar
    cornholio 7 years ago

    Dhandahead cabinet, lead by a near blind president, dont expect anything from it. As usual, expect decay, corruption and looting!

  • comment-avatar
    cornholio 7 years ago

    Perhaps jealous mawarire will go to the conmen court where he did it before

  • comment-avatar
    Morris 7 years ago

    It is always difficult to manage a post-rigged-election move. Let us not forget that SADC with all its frailities used words that are tell-tell signs of their misgiving about the electoral result. Mugabe and his team understand that very well notwithstanding the bravado they seem to ooze. A cabinet has to be well thought of. The terrible reality is that there is a huge chance that Zimbabwe will be worse than what it came to in 2008 unless the rhetoric is set aside and pragmatism prevails. You do not need to be an MDC supporter to realize that the country is tipped to go down; you just have to have grey matter somewhere in the head.

  • comment-avatar
    Rwendo 7 years ago

    With Mugabe the politics of how to retain Mugabe as leader, and how the politics of how to retain ZANU PF in power and control (i.e. how to demolish the opposition) has always superceded all else – agricultural policy, financial policy, foreign investment, size of cabinet, competence of cabinet ministers, etc. all these have always been a secondary consideration. What is good for Zimbabwe and its economy is never his first concern (except maybe for the years 1980-1985, 5th Brigade excluded). The new cabinet will reflect the same old pre-occupations and scheming.

  • comment-avatar
    Mkast 7 years ago

    @zaba true that we need to take positives from foes but we cant wallow in the same old story of bleak projections ,there are a lot of positives that can take the country forwad and the policy is clear indiginise n empower.

  • comment-avatar
    masvukupete 7 years ago

    Mahwa wo zvandahwa here vanhu vamwari. Hanzi there are no takers for the finance portfolio hence the major delay in announcing the cabinet. No one wants to be blamed for the economy. But kwahi ku Mines ma ques from the Munhumutapa office all the way round to the parliament buildings. So they say they are trying to sort out the ques.